PBOC sets USD/ CNY reference rate for today at 6.9572 (vs. estimate at 6.9586)

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

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 6.9630

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The USD continued to gain after the inflation data on Friday. The People's Bank of China getting on board by weakening the onshore yuan. Big time. 600+ points lower from Friday's mid rate. This is the biggest one-day weakness in the onshore yuan setting since July last year.

PBoC injects 336bn yuan of 7-day reverse repos at an unchanged rate of 2.0%

270bn yuan of RRs mature today
thus a net injection of 66bn yuan on the day in open market operations

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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