PBOC sets USD/ CNY reference rate for today at 6.8854 (vs. estimate at 6.8773)
News brief
PBOC CNY reference rate setting for the trading session ahead. The PBOC allows the yuan to fluctuate within a +/- 2% range, around this reference rate. The 6.8854 rate is the strongest, for CNY, in nearly 3 years. PBOC injects 500mn yuan via 78pday reverse repos in open market operates today. Unchanged rate of 1.4%. This article was…
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.
PBOC CNY reference rate setting for the trading session ahead. The PBOC allows the yuan to fluctuate within a +/- 2% range, around this reference rate. The 6.8854 rate is the strongest, for CNY, in nearly 3 years. PBOC injects 500mn yuan via 78pday reverse repos in open market operates today. Unchanged rate of 1.4%. This article was… The PBOC allows the yuan to fluctuate within a +/- 2% range, around this reference rate. . The 6.8854 rate is the strongest, for CNY, in nearly 3 years. The PBOC allows the yuan to fluctuate within a +/- 2% range, around this reference rate. The 6.8854 rate is the strongest, for CNY, in nearly 3 years. PBOC injects 500mn yuan via 78pday reverse repos in open market operates today. Unchanged rate of 1.4%. 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.
