Turkey Day yuan reference rate, a big revaluation of the onshore yuan, biggest central rate move from the bank in about 6 weeks (since October 11)
On Wednesday, the USD was clobbered ahead of holidays
In Open Market operations ... PBOC is to
- inject 140 bn yuan through 7 day reverse repos
- inject 120 bn yuan through 14 day reverse repos
- inject 10 bn yuan through 63 day reverse repos
A net 100 bn yuan injection (after taking into account RRs maturing today)
