The People's Bank of China sets the onshore yuan (CNY) mid point for the trading session ahead.
- USD/CNY is permitted to trade plus or minus 2% from this daily reference rate.
- CNH is the offshore yuan. USD/CNH has no restrictions on its trading range.
- The previous close was 6.5212
- Reuters estimate from their survey was 6.5234, Bloomberg 6.5235 .... (A rate that's significantly stronger or weaker than expected is typically considered a signal from the PBOC)
- Setting today is the strongest for the onshore yuan since March 24
PBOC injects 10 billion yuan liquidity via 7-day reverse repo
- 10 billion yuan reverse repo mature today
- net neutral on the day
