<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 6.7988</p><p>PBoC injects 393bn yuan of 7-day reverse repos at an unchanged rate of 2.0%471bn yuan of RRs mature todaythus a net drain of 78bn yuan on the day in open market operations</p><p><a href="https://www.forexlive.com/terms/e/eur/" class="terms__main-term" id="b0427fd7-674c-4ad1-b689-22d1f8b087b0" target="_blank">eur</a></p>
This article was written by Eamonn Sheridan at www.forexlive.com.