The People’s Bank of China set the onshore yuan reference rate for the trading session ahead.
- Reuters estimate from their survey was 6.5289, Bloomberg 6.5279
injects 10 billion yuan liquidity via 7-day reverse repo
10 billion yuan reverse repo matures today
thus neutral, no net injection nor drain
19th day in a row of neutral
Unrelated but of interest, Dalian iron ore is circa 2.5% higher for the session so far