Lowest reference rate for the CNY since January 5 this year.
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 CNY has been set significantly weaker than expected today.
- The previous close was 6.
The PBOC inject 10 yuan via 7 day reverse repos (rate remains at 2.1%)
10bn yuan mature today
thus a net neutral on the day
