<p>People's Bank of China set the onshore yuan (CNY) reference rate for the trading session ahead.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 6.7531</p><p>more to come</p><p>PBoC injects 155bn yuan of 7-day reverse repos at an unchanged rate of 2.0%447bn yuan of RRs mature todaythus net drain of 292bn yuan on the day in open market operations</p><p>-</p><p>eur</p>
This article was written by Eamonn Sheridan at www.forexlive.com.