This is the reference rate for the onshore yuan, CNY
PBOC cracks it through 6.8
Weaker onshore yuan again today … weakest for the CNY since late June of 2017
Looks like FX is bored with it already. It should be a negative input for something like the AUD/JPY …. not much response so far at least … and it goes up! Yep, market bored with the yuan fix already. And, it doesn't help the market is well short AUD. :-D
CPI is next, if it surprises to the topside AUD will surge.
PBOC skips OMOs today
- Net drain of 60bn yuan
