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

Stronger for the onshore yuan again, stronger than expectations again also:

  • Reuters estimate from their survey was 6.4872, Bloomberg 6.4853

PBOC add in 10bn yuan through 7-day RRs in open market operations

  • 10bn mature today
  • thus net neutral

Its been the same all week, total of 50bn injected, total of 50bn maturing ... neutral for the week.