There is no PBoC USD/CNY reference rate setting today – China is on holiday

China’s Lunar New Year, marking the start of the Year of the Snake, falls on Wednesday, January 29.

The official public holiday spans 8 days, from January 28 (New Year’s Eve) to February 4.

During this period, many businesses and government offices close, allowing people to travel home for family reunions. Celebrations traditionally continue for 16 days, culminating with the Lantern Festival on February 12.

Chinese markets will be closed for all the holidays.

This article was written by Eamonn Sheridan at www.forexlive.com.