PBOC sets USD/ CNY reference rate for today at 6.7825 (vs. yesterday at 6.8222)
People's Bank of China ramping up that onshore yuan ... a not quite 4 big figure revaluation for the central rate.
- strongest mid-rate for the CNY since May 9 last year
PBOC injects 120bn yuan via 7 day RRs in OMOs today
- maturities are 120bn
- thus neutral