PBOC sets USD/ CNY reference rate for today at 6.9141 (vs. estimate at 6.9083)
News brief
6.9141 is the weakest for CNY since March 9. The PBOC allows the yuan to fluctuate within a +/- 2% range, around this reference rate. PBOC injects 146.2bn yuan in 7-day reverse repos at 1.4% (unchanged) in open market operationsfor the week the PBOC have injected net 231.9bn This article was written by Eamonn Sheridan at investinglive.com.
Why traders care
For traders, releases like this can quickly shift rate expectations, currency direction, index futures and broad risk sentiment.
What to watch next
- Watch the next move in the dollar, front-end yields and index futures to see whether the market prices this release as a true surprise or only a passing headline.
6.9141 is the weakest for CNY since March 9. The PBOC allows the yuan to fluctuate within a +/- 2% range, around this reference rate. PBOC injects 146.2bn yuan in 7-day reverse repos at 1.4% (unchanged) in open market operationsfor the week the PBOC have injected net 231.9bn This article was written by Eamonn Sheridan at investinglive.com. The PBOC allows the yuan to fluctuate within a +/- 2% range, around this reference rate. . PBOC injects 146.2bn yuan in 7-day reverse repos at 1. The PBOC allows the yuan to fluctuate within a +/- 2% range, around this reference rate. PBOC injects 146.2bn yuan in 7-day reverse repos at 1.4% (unchanged) in open market operations for the week the PBOC have injected net 231.9bn For traders, releases like this can quickly shift rate expectations, currency direction, index futures and broad risk sentiment. Watch the next move in the dollar, front-end yields and index futures to see whether the market prices this release as a true surprise or only a passing headline.
