People's Bank of China with a hefty smack lower for the onshore yuan again today
That is the lowest for CNY against the dollar since January 10 this year
Overnight Chinese President Xi warned Trump on trade:
- "Mr. Xi told a group of 20 mostly American and European multinational chief executives on Thursday that Beijing plans to strike back, according to people briefed on the event," the WSJ says.
PBOC backing him up again today
Open Market operations
- PBOC inject 80 bn yuan through 7-day reverse repos
net drain is 90bn yuan (net takes into account maturing RRs)
