![USDCNY](https://images.forexlive.com/images/USDCNY_id_0d86280e-5c57-4ac4-baaa-2d2a282d7247_size900.jpg)
USD/CNY daily chart
In case you missed the headlines from earlier:
- PBOC sets USD/ CNY reference rate for today at 7.1466 (vs. estimate at 7.2233)
- PBOC eases cross-border funding
- ICYMI - yuan rocketed higher with the PBOC slamming the fix, and promoting capital inflow
There was a big drop in the Chinese yuan yesterday and local authorities have responded by punishing speculators today. In turn, that has helped with giving the aussie and kiwi an indirect boost.