Onshore yuan reference rate - CNY weakened big time today by the Bank
People's Bank of China firing a shot in the trade war with a sharp devaluation of the RMB. Estimates were for a move to around 6.66, but the Bank have exceeded this.
In open market operations, injects 30bn yuan through 7-day reverse repos.
- 30bn mature today, so net its neutral
Greg posted on the yuan earlier:
