PBOC sets USD/ CNY reference rate for today at 7.2066 (vs. estimate at 7.2429) Eamonn Sheridan Forexlive RSS Breaking News Feed

The People’s Bank of China (PBOC), China’s central bank, is responsible for setting the daily midpoint of the yuan (also known as renminbi or RMB). The PBOC follows a managed floating exchange rate system that allows the value of the yuan to fluctuate within a certain range, called a “band,” around a central reference rate, or “midpoint.” It’s currently at +/- 2%.

Previous close was 7.2399

PBOC injects 43bn yuan via 7-day RR, sets rate at 1.4%

• there are no maturities today, hence the net injection is that 43bn yuan

—

The big news re China is the trade talks, detail is due some time today:

• Awaiting the joint statement from China and the US on Geneva trade talks – no time set

This article was written by Eamonn Sheridan at www.forexlive.com.The People’s Bank of China (PBOC), China’s central bank, is responsible for setting the daily midpoint of the yuan (also known as renminbi or RMB). The PBOC follows a managed floating exchange rate system that allows the value of the yuan to fluctuate within a certain range, called a “band,” around a central reference rate, or “midpoint.” It’s currently at +/- 2%.Previous close was 7.2399PBOC injects 43bn yuan via 7-day RR, sets rate at 1.4%there are no maturities today, hence the net injection is that 43bn yuan—The big news re China is the trade talks, detail is due some time today:Awaiting the joint statement from China and the US on Geneva trade talks – no time set
This article was written by Eamonn Sheridan at www.forexlive.com.  Read MoreCentral Banks 

​Forexlive RSS Breaking News Feed