Chinese Yuan Stable as CPI Misses Expectations

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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