From @financialjuice|11 hr ago
post: CHINA SETS YUAN MIDPOINT AT 7.4011 PER DOLLAR, COMPARED TO LAST CLOSE OF 7.2212PBOC sets USD/ CNY central rate at 7.1011 (vs. estimate at 7.2102) The People’s Bank of China set the onshore yuan (CNY) reference rate for the trading session ahead. • USD/CNY is the onshore yuan. Its permitted to trade plus or minus 2% from this daily reference rate. • CNH is the offshore yuan. USD /CNH has no restrictions on its trading range. • A significantly stronger or weaker rate than expected is typically considered a signal from the PBOC. The previous close was 7.2212. PBOC injects 2bn via 7-day RR, sets rate at an unchanged 1.8%.
