Market Comment | Markets regain some ground as Yuan stabilizes

Summary

The PBoC calmed markets today with a daily currency fixing stronger than analysts expected. That said, markets continue to remain cautious in the wake of heightened trade tensions.

Key points

• Key points:
• The PBoC set the daily currency fixing at 6.9683 per US dollar, stronger than expected.
• VIX declined but continued above 20 threshold.
• German yield continued hitting new lows, and gold prices reached its highest levels sin 2013.

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