PBOC sets USD/ CNY reference rate for today at 6.9120(vs. yesterday at 6.9098)

Author: Eamonn Sheridan | Category: Central Banks

As a heads up ICYMI, the US Treasury release their currency manipulator report next week

  • Speculation that the US will officially name China has ebbed and flowed for, oh, about 30 years or so.
It looks like China will not get named again this time:
Come back in 6 months! (that's when we get the next report and can start guessing on names again) 

And, back to today …

That is a weak CNY given the softish tone to the USD. 

People's Bank of China has skipped open market operations again today
  • No maturing reverse repos
  • Thus net neutral from the bank today
Net drain this week as a whole, 160bn yuan. 

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