The People's Bank of China set the onshore yuan (CNY) reference rate for the trading session ahead.
- USD/CNY is permitted to trade plus or minus 2% from this daily reference rate.
- CNH is the offshore yuan. USD/CNH has no restrictions on its trading range.
- The previous close was 6.4715
- Reuters estimate was 6.4817. A significantly stronger or weaker rate than expected is typically considered a signal from the PBOC.
Waiting on the OMO (open market operations) announcement info from the Bank, which should be along in a few minutes. It will be added to this post as soon as its available.
PBOC injects 100bn yuan via 14-day reverse repos in open market operations
60bn mature today
thus net added 40bn
And, ICYMI, this is a bit of a bombshell:
