PBOC sets USD/ CNY mid-point today at 7.1254 (vs. estimate at 7.1468)

<p data-v-2b84ef95="">The People's Bank of China set the onshore yuan (CNY) reference rate for the trading session ahead.</p><ul data-v-2b84ef95=""><li data-v-2b84ef95="">USD/CNY is the onshore yuan. Its permitted to trade plus or minus 2% from this daily reference rate.</li><li data-v-2b84ef95="">CNH is the offshore yuan. USD /CNH has no restrictions on its trading range.</li><li data-v-2b84ef95="">A significantly stronger or weaker rate than expected is typically considered a signal from the PBOC.</li></ul><p data-v-2b84ef95="">The previous close was 7.1400</p><p>7.1254 is the strongest for onshore yuan since June 19.</p><p>–</p><p data-v-2b84ef95="">PBOC injects 460bn via 7-day RR, sets rate at an unchanged 1.8%</p><ul data-v-2b84ef95=""><li data-v-2b84ef95="">495bn yuan of RRs mature today</li><li data-v-2b84ef95="">thus a net 35bn yuan drained on the day in Open Market Operations (OMOs)</li></ul><p><br></p>

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