PBOC slashing the yuan price today

Onshore yuan, CNY, to a fresh low for the mid rate since May of last year

PBOC has skipped OMOs again today, neutral (no RRs mature)

  • Bank citing relatively high level of banking system liquidity
  • 17th consecutive no OMO day from the Bank

Against its basket, this is the yuan index as set by CFETs

  • 92.91 on Friday (from 92.69 the previous Friday)

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Meanwhile, the HKD is hitting the bottom end of its trading band (7.85)