PBOC sets USDCNY midpoint at 7.1992 vs est 7.2482 (Previous 7.1966)

The People’s Bank of China set the onshore Yuan (CNY) reference rate for the trading session ahead

• USDCNY is the onshore yuan. It permitted to trade plus or -2% from this daily reference rate
• CNH is the offshore yuan. USDCNH has no restrictions on its trading range.
• A significant stronger or weaker rate than expected is typically considered a signal from the PBOC

PBOC injects 981Bln yuan via seven-day reverse repo with the rate of 1.5%

This article was written by Greg Michalowski at www.forexlive.com.