The RMB suddenly changed! What happened?

On October 15th, today, the RMB exchange rate continued to decline. The offshore RMB exchange rate against the US dollar once fell below the 7.12 mark, falling more than 350 points in the day; the onshore RMB exchange rate against the US dollar fell more than 300 points. Earlier, the People's Bank of China authorized the China Foreign Exchange Trading Center to announce that the central parity rate of the RMB exchange rate in the interbank foreign exchange market was 7.0830 yuan per US dollar, a depreciation of 107 basis points. Analysts believe that the main reason for this wave of decline in the RMB exchange rate is the continued strengthening of the US dollar. As the expectations of the Federal Reserve's sharp interest rate cut fell, the US dollar strengthened rapidly against other currencies, and the US dollar index has erased about two months of losses. Regarding the market outlook fluctuations, < b > analysts believe that the later trend of the RMB exchange rate will depend on the implementation of follow-up fiscal policies. Based on the analysis of domestic and foreign situations, it is expected that the RMB exchange rate will maintain a volatile trend of two-way fluctuations during the year.