The daily yuan fixing

  • Daily yuan fixing weaker vs yesterday's fixing
  • PBOC skips open-market operations for the 3rd day in a row.
  • With 120B of reverse repos maturing on Monday, China Central Bank drains 120B Yuan on the day
  • 87 pips weaker than Reuters estimate of 6.9487
  • The Friday fixing was set at 6.9510.
  • Weakest level since May 2008

The market is fixed on the 7.000 handle. Earlier it was reported from China Press that the Yuan unlikely to weaken to beyond 7.0000