There was no mid-rate setting on Monday due to the holiday in China.
The People's Bank of China set the onshore yuan reference rate for the first trading session of the week.
- The previous close was 6.5675
- Reuters estimate from their survey was 6.5532, Bloomberg 6.5520 .... (A rate that's significantly stronger or weaker than expected is typically considered a signal from the PBOC.)
PBOC injects 10 billion yuan liquidity via 7-day reverse repo
20 billion yuan reverse repo matures today
thus a net 10bn yuan drain
