In open market operations
- inject 10 bn yuan via 7-day reverse repos
- inject 100 bn through 28-dayers
On Friday the People's Bank of China jammed (I reckon that's a decent adjective to use) the value of the CNY against USD higher by the most since the yuan was revalued in 2005 (if you are counting-challenged, that the most in 11 years).
And, I can't remember where I posted this, but the PBOC are not that fussed with a depreciating yuan, they just don't want it to be in too much of a rush and they are quite happy to add some two-way risk into it.
So, I reckon we are not seeing a turn in the weaker yuan trend, just a pause.
And, as a ps. That's a nice jam the other way for USD/CNY today ;-)