The People's Bank of China reference rate sets a mid point for the session's onshore yuan trading.
- The Bank allows USD/CNY to fluctuate plus or minus 2% from the rate only.
- The offshore yuan is fair game though, no boundaries set for that.
Weaker for the CNY again today … expect more of that to come I reckon.
For local money markets, PBOC skips OMOs again today, says banking liquidity at a reasonable and plentiful level.
