PBOC sets USD/ CNY reference rate for today at 7.1797

<p>The People's Bank of China set the onshore yuan (CNY) reference rate for the trading session ahead.</p><ul><li>USD/CNY is the onshore yuan. Its permitted to trade plus or minus 2% from this daily reference rate.</li><li>CNH is the offshore yuan. USD /CNH has no restrictions on its trading range.</li><li>A significantly stronger or weaker rate than expected is typically considered a signal from the PBOC.</li></ul><p>The Yuan mid point is at the weakest level since Oct. 16. </p>

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