PBOC sets USD/CNY mid-point at 6.9032 (vs. yesterday at 6.8957)

In Open Market operations to inject cash into the market:

  • To inject 10 bn yuan through 7-day reverse repos
  • To inject 10 bn yuan through 14-day reverse repos
  • To inject 10 bn yuan through 28-day reverse repos

A weaker yuan today from the PBOC.

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Still to come from China today is February trade balance. Perhaps around 0200GMT, but that time is a maybe: Economic data due from China today - trade balance!

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