PBOC sets USD/ CNY reference rate for today at 6.7872 (vs. yesterday at 6.7595)
People's Bank of China onshore USD/yuan mid-rate higher with the move up for the USD overnight.
PBOC injects 200 bn yuan via 7 day RRs in OMOs today & 150 bn in 14 dayers
- no RRs mature today
- Net injection is therefore a large 350bn yuan