The Chinese yuan was stable today after nation’s inflation missed market expectations.
The National Bureau of Statistics of China reported that the Consumer Price Index rose 1.5% year-on-year in June, the same as in the previous month and below the average forecast (1.6%). The miss was not big, though, and apparently markets were not bothered by it. The Producer Price Index rose 5.5% year-on-year in June, the same as in May as well and matching expectations exactly.
USD/CNY was little changed at 6.8046 as of 12:26 GMT today.
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