Huge revaluation again for the onshore yuan against the USD. The CNY is at its strongest now since mid-November of 2015
A bit of earlier news from China ... PBOC Governor (and Chinese People's Political Consultative Conference Vice Chairman) Zhou Xiaochuan has not been reappointed to the national committee of the CPPCC .
- Zhou will be retiring this month
- This was announced many months ago, so its not new news
- Zhou has run the Bank since 2002!
PBOC to skip Open Market operations today
- In a statement the Bank says targeted RRR cut to offset reverse repo maturities
In skipping OMOs its a it's a net 120 bn yuan drain via OMOs
