PBOC sets USD/ CNY central rate at 6.7674 (vs. estimate at 6.7680)

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

USD/CNY is the onshore yuan. Its permitted to trade plus or minus 2% from this daily reference rate.
CNH is the offshore yuan. USD /CNH has no restrictions on its trading range.
A significantly stronger or weaker rate than expected is typically considered a signal from the PBOC.
The previous close was 6.7620

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People's Bank of China:

injects 65bn of 7-day reverse repos (RR) in open market operations (OMO), rate unchanged at 2.0%
injects 467bn yuan in 14-day RRS, rate unchanged at 2.15%

65bn yuan of RRs mature today

Thus a net 467 bn yuan injection.

The large injections come ahead of the extended Lunar New Year holiday that begins on January 21. Demand for cash surges over this holiday break.

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eur EUR The euro (EUR) is the official currency of the European Union (EU) and 19 of 27 member states at the time of writing. It is the second most-traded currency worldwide in forex markets after the US dollar.The euro was originally introduced back on January 1, 1999, having replaced the European Currency Unit. Banknotes and physical euro coins subsequently entered circulation only in 2002.Upon its adoption, the euro replaced domestic currencies in participating EU member states. The rise in its value The euro (EUR) is the official currency of the European Union (EU) and 19 of 27 member states at the time of writing. It is the second most-traded currency worldwide in forex markets after the US dollar.The euro was originally introduced back on January 1, 1999, having replaced the European Currency Unit. Banknotes and physical euro coins subsequently entered circulation only in 2002.Upon its adoption, the euro replaced domestic currencies in participating EU member states. The rise in its value Read this Term