The People's Bank of China gave the onshore yuan a small boost at the reference rate setting today.
As I noted in that post, the rate had been around 7.0730 plus or minus just a few tics for weeks. But, a little extra strength for the onshore yuan set from the PBOC today.
Some will read this as China expressing a degree of satisfaction at the outcome of the trade talks. And why not, China got to buy soybeans to help cover the shortfall they are seeing in pork availability without giving away anything in return.
A weakening yuan has been an issue for the US (rightly or wrongly) so the PBOC may be just throwing 'em a bone with this. Its the strongest for the onshore yuan in a month, but its also useful to note the move for the mid rate is tiny, its 17 tics from Monday. Sheesh.
