Chinese yuan (USD/CNH) is back to little changed after as expected LPR decision

<p>The People's Bank of China have had a buys morning doing not a lot:</p><ul><li><a href="https://www.forexlive.com/centralbank/pboc-sets-usd-cny-reference-rate-for-today-at-71105-vs-estimate-at-71870-20240122/" target="_blank" rel="follow" data-article-link="true">PBOC sets USD/ CNY reference rate for today at 7.1105 (vs. estimate at 7.1870)</a></li></ul><p>and</p><ul><li><a href="https://www.forexlive.com/centralbank/pboc-loan-prime-rates-lpr-are-unchanged-1-year-345-5-year-420-as-expected-20240122/" target="_blank" rel="follow" data-article-link="true">PBoC Loan Prime Rates (LPR) are unchanged @ 1 year 3.45% &amp; 5 year 4.20%. As expected</a></li></ul><p>Offshore yuan strengthened, USD/CNH falling under 7.1980 briefly, but has since retraced to be little changed:</p>

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