{
  "id": 16853684,
  "title": "China's yuan hovers near 4-year high ahead of Fed decision",
  "url": "https://urgent.news/2026/10/28/chinas-yuan-hovers-near-4-year-high-ahead-of-fed-decision",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-28T05:08:31.000Z",
  "source": {
    "name": "Business Recorder",
    "slug": "business-recorder",
    "url": "https://www.brecorder.com/news/40446282/chinas-yuan-hovers-near-4-year-high-ahead-of-fed-decision"
  },
  "original_language": "en",
  "account": "HONG KONG: China's yuan remained relatively stable against the US dollar on Wednesday, awaiting the Federal Reserve's policy decision, with traders anticipating no immediate interest rate changes. Analysts predict a short-lived pause in rate hikes, considering inflation remains high. The yuan traded 0.01% lower at 6.6675 to the dollar at 0322 GMT, fluctuating between 6.6667 and 6.6701 throughout the day. It was slightly below the four-year high of 6.6660 achieved the previous session. Market analysts suggest that traders will focus on any guidance from the Federal Reserve, especially if it indicates a continuation of tightening measures due to elevated energy prices and inflation risks. The People's Bank of China set its yuan midpoint rate at 6.7165 a dollar prior to market opening, which is 431 pips weaker than a Reuters estimate. The bank allows spot yuan to trade within a 2% range of the midpoint each day. Strong manufacturing data has bolstered the yuan's value, with industrial profits expanding more rapidly than previously anticipated in September, primarily driven by the manufacturing sector for computers, communication equipment, and other electronic devices. The yuan has increased by 0.6% against the dollar this month and 4.9% so far this year. The offshore yuan rate was 6.666 yuan per dollar, slightly down by 0.02% in Asian trade. The dollar's six-currency index was 0.029% higher at 102.39.",
  "summary": "HONG KONG: China’s yuan was little changed against the US dollar on Wednesday as traders awaited the Federal Reserve’s policy decision for clues on the near-term interest rate outlook. Markets broadly expect no change in US central bank policy this week, but believe a rate-hike pause will not last for long given inflation remains stubbornly high. The yuan was 0.01% lower at 6.6675 to the dollar…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 6,
    "also_reported_by": [
      {
        "outlet": "Qatar Tribune Business",
        "title": "Asian markets gain ahead of earnings, Fed decision",
        "url": "https://urgent.news/2026/10/27/asian-markets-gain-ahead-of-earnings-fed-decision",
        "published": "2026-10-27T21:00:00.000Z"
      },
      {
        "outlet": "CNBC World",
        "title": "Stock futures are little changed as traders await Fed decision, Big Tech earnings: Live updates",
        "url": "https://urgent.news/2026/10/27/stock-futures-are-little-changed-as-traders-await-fed-decision-big",
        "published": "2026-10-27T22:11:57.000Z"
      },
      {
        "outlet": "FXStreet",
        "title": "British Pound weakens to near 1.3300 ahead of UK budget, Fed rate decision",
        "url": "https://urgent.news/2026/10/28/british-pound-weakens-to-near-1-3300-ahead-of-uk-budget-fed-rate",
        "published": "2026-10-28T02:36:33.000Z"
      },
      {
        "outlet": "New Straits Times",
        "title": "Gold edges higher ahead of Fed policy decision",
        "url": "https://urgent.news/2026/10/28/gold-edges-higher-ahead-of-fed-policy-decision",
        "published": "2026-10-28T02:37:16.000Z"
      },
      {
        "outlet": "CoinDesk",
        "title": "Bitcoin nears $81,000 ahead of Fed decision as ZEC jumps 8%",
        "url": "https://urgent.news/2026/10/28/bitcoin-nears-81-000-ahead-of-fed-decision-as-zec-jumps-8",
        "published": "2026-10-28T04:15:20.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}