PBOC sets USD/ CNY reference rate for today at 6.8293 (vs. yesterday at 6.8165)

Daily mid rate setting from the Bank, CNY set at its lowest since 31 May … of 2017

Higher again, perhaps partially (at least) in response to this:

• More coming in on the US proposed 25% tariffs on Chinese imports

The escalation of the trade war is not a positive inout for 'risk': AUD/JPY has been under pressure

The People's Bank of China skips open market operations today

• 20bn yuan in RRs mature, thus a net drain of 20bn yuan