Eamonn Sheridan
PBOC sets USD/ CNY reference rate for today at 6.7180 (vs. estimate at 6.6758)
The PBOC allows the yuan to fluctuate within a +/- 2% range, around this reference rate. More here on this. Bank injects 258bn yuan via overnight reverse repos, no 7-day RRs --- As background on the overnight OMOs: Explainer: China eyes overnight rate as main policy tool, what it
Desk synthesis pending
We’re writing the institutional analysis for this note — multi-section body, firm-by-firm alignment chips, key takeaways, market implications, risks. The synthesizer processes the queue hourly, with priority by citation density.
In the meantime, the most useful reads are the related coverage below — it reaches the same substance from different angles.