PBOC sets USD/ CNY mid-point today at 6.4712 (vs. yesterday at 6.4709)

  
  Analysis

The People’s Bank of China set the onshore yuan (CNY) reference rate for the trading session ahead.

    • USD/CNY is 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.

 

  • The previous close was 6.4700
  • Reuters surveyed estimate was  …. 6.4676 (A rate that’s significantly stronger or weaker than expected is typically considered a signal from the PBOC).
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