Published: 2025-05-13T04:44:35.000Z
AUD/USD flows: Proxy supported
FX Analyst
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People’s Bank of China set the daily USD/CNY reference rate below 7.2 for the first time since April 7
The PBoC has set the onshore reference rate to be stronger than expected, at a level last seen in April 7. It was seen as a sign that trade tension is easing. Equities are mostly reversing Monday's gains partially with Chinese equities hang on to the green.
AUD/USD benefited from the proxy support and softer USD to trade 0.62% higher at 0.6412.