The reference rate setting for the USD/CNY is coming up at 0115 GMT.
Reuters estimate is 6.9946.
This would be a huge margin over yesterday's rate:
But, the PBOC, like the BOJ, is not tightening policy. And, as you know, the Fed is. the latest move was Wednesday:
CNY and CNH (the offshore) are both above 7, not hanging around waiting for the central rate to catch up!
USD/CNH:
