PBOC sets USD/ CNY reference rate for today at 6.7010 (vs. Friday at 6.7332)
People's Bank of China injects 50bn yuan in 7 day reverse repos
- None mature today, thus net +50bn
PBOC with a move much stronger for the onshore yuan, 320+ pips up from Friday. Its highest mid-rate fixing since mid-April of 2019.