PBOC sets USD/ CNY central rate at 6.7802 (vs. estimate at 6.7789)

People's Bank of China set the onshore yuan (CNY) reference rate for the trading session ahead.

• USD/CNY is the onshore yuan. Its 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.
  A significantly stronger or weaker rate than expected is typically considered a signal from the PBOC.
  The previous close was 6.7805

• The PBOC injects 2 yuan via 7-day reverse repos (rate remains at 2%, was cut from 2.1% on Monday this week)
  2bn yuan mature today
  thus a net neutral in OMOs today