The People’s Bank of China set the onshore yuan reference rate for the trading session ahead.
- The previous close was 6.5655
- Reuters estimate from their survey was 6.5627, Bloomberg 6.5652 …. (A rate that’s significantly stronger or weaker than expected is typically considered a signal from the PBOC.)
PBOC injects 10 billion yuan liquidity via 7-day reverse repo
10 billion yuan reverse repo matures today
thus neutral, no net injection nor drain