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RBA Statement on Monetary Policy Eases Selling Pressure
RBA Statement on Monetary Policy Eases Selling Pressure
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 7.2840
PBOC injects 203bn via 7-day RR, sets rate at an unchanged 1.8%
- 43bn yuan of RRs mature today
- thus a net 160bn yuan injection on the day in Open Market Operations (OMOs)
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