People's Bank of China reference rate for the USD / CNY
- trading is permitted plus or minus2% from this rate
(the offshore USD/CNY - no limits)
A higher CNY against the big dollar from the PBOC today - the USD had a slide on powell's comments overnight … ICYMI:
And, plenty more:
- Powell Q&A: Estimates of neutral rate and maximum employment highly uncertain
- November 28 2018, the "Powell Put" is born
- Fed Chair Powell's lovey dovey comments ... or were they?
Back to the PBOC ... broken record time --> PBOC skips open market operations (this is for the 25th session in a row!)
- no RRs mature today, neutral from the bank
- 25 consecutively is the longest streak since 2016
