USD/CNY mid rate, higher (weaker CNY) after the overnight USD strength
Open market operations (OMOs)
- PBOC Inject 95bn yuan through 7-day reverse repos
- PBOC Inject 65bn yuan through 14-day reverse repos
- PBOC Inject 35bn yuan through 28-day reverse repos
More big cash injections into the money market today, following a big week
- A net 595bn yuan injected this week (compared with net 95.5bn injected the previous week)
The central rate was set a little lower than where many were expecting. As I update there is some selling of USD/CNY and USD/CNH on this.