PBOC sets USD/ CNY reference rate for today at 6.7602 (vs. estimate at 6.7644)

People's Bank of China set the onshore yuan (CNY) reference rate for the trading session ahead.

USD/CNY is the onshore yuan. Its permitted to trade plus or minus 2% from this daily reference rate.
CNH is the offshore yuan. USD /CNH has no restrictions on its trading range.
A significantly stronger or weaker rate than expected is typically considered a signal from the PBOC.
The previous close was 6.7689

People's Bank of China:

injects 133bn of 7-day reverse repos (RR) in open market operations (OMO), rate unchanged at 2.0%
injects 447bn yuan in 14-day RRS, rate unchanged at 2.15%

65bn yuan of RRs mature today

Thus a net 515 bn yuan injection.

The hefty injections comes ahead of the extended Lunar New Year holiday that begins on January 21. Demand for cash surges over this holiday break.

jpy JPY The Japanese yen (JPY) is the official currency of Japan and at the time of writing is the third most-traded currency in the world behind only the US dollar and euro.The JPY is used extensively as a reserve currency and is relied upon by forex traders as a safe haven currency.Originally implemented in 1871, the JPY has had a long history and has survived multiple world wars and other events. This was followed by the creation of the Bank of Japan (BoJ) in 1882 and the full oversight of the JPY by The Japanese yen (JPY) is the official currency of Japan and at the time of writing is the third most-traded currency in the world behind only the US dollar and euro.The JPY is used extensively as a reserve currency and is relied upon by forex traders as a safe haven currency.Originally implemented in 1871, the JPY has had a long history and has survived multiple world wars and other events. This was followed by the creation of the Bank of Japan (BoJ) in 1882 and the full oversight of the JPY by Read this Term