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Home
> Central Banks
> PBOC set the reference rate 400+ lower than expect - yuan traders not fooled a second day
Central Banks
CNY

PBOC set the reference rate 400+ lower than expect - yuan traders not fooled a second day

Eamonn Sheridan
Eamonn Sheridan
Friday, 21/07/2023 | 01:24 GMT
21/07/2023 | 01:24 GMT
  • 0

I posted here earlier a bit of a recap of the People's Bank of China smashing the USD/CNH longs yesterday.

The Bank set today's rate well below the expected yet again today:

  • PBOC sets USD/ CNY reference rate for today at 7.1456 (vs. estimate at 7.1965)

Yuan traders were more wary today though, USD/CNH is not a lot changed since:

usdcnh 5 minute chart 21 July 2023
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