Forex
globalreutersJune 11, 20241 Mins read
PBOC sets USD/ CNY reference rate for today at 7.1135 (vs. estimate at 7.2724)
globalreutersJune 11, 20241 Mins read The 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 7.2480
The setting at 7.1135 is the weakest (for the CNY) since January 19 this year.
PBOC injects 2bn via 7-day RR, sets rate at an unchanged 1.8%
- 4bn mature today
- a net drain of 2bn yuan in Open Market Operations (OMOs)
more to come
This article was written by Eamonn Sheridan at www.forexlive.com.
Recent Posts
Categories
Related Articles
USDJPY bounces off 100 bar MA on the 4-hour chart. Can the buyers keep the momentum?
The USD/JPY pair moved lower during the morning U.S. session but found...
More from Goolsbee: Feels like we are heading to 2% inflation
Feel like we're headed to 2% inflation.Neutral is a long way below...
USDCHF moves above converged 100 and 200 hour MAs and rockets higher
Earlier today, I posted:USDCHF: The USDCHF held resistance at the 100-hour moving...
Matt Gaetz withdraws name for Attorney General nomination
This article was written by Greg Michalowski at www.forexlive.com.
Leave a comment