On Tuesday, September 3rd, the People's Bank of China set the yuan midpoint rate at 6.7807 against the U.S. dollar, marking an appreciation of 22 basis points.

Meanwhile, market expectations for U.S. monetary policy are firming. According to the CME Group's "FedWatch" tool, there is a 62.3% probability that the Federal Reserve will implement a 25-basis-point rate hike at its September meeting.

The same data indicates a 37.7% chance that the Fed will hold interest rates steady in September, with the remainder assigning a 62.3% likelihood to a quarter-point increase. Looking further ahead to the October meeting, the probability of rates staying unchanged stands at 27.2%. In contrast, the likelihood of a cumulative 25-basis-point hike by October is 55.5%, while the chance of a more aggressive cumulative 50-basis-point increase is pegged at 17.2%.