PBOC sets USD/ CNY reference rate for today at 7.2056 (vs. estimate at 7.2095)

<p>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 previous close was 7.1821</p><p>I'll post the OMO activity from the People's Bank of China separately </p>

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