PBOC sets mid-point below 7 for the first time since August 6

  • Mid-point at 6.9945 vs 6.9788 close

A setting below 7 was a foregone conclusion after the positive comments on a trade deal earlier.

The PBOC is gauging demand for 7, 14, 28 and 63-day repos, according to a trader cited on the newswires.