The USD took a trump trip lower overnight, PBOC reflecting USD weakness in the reference rate setting today ... a restrained CNY revaluation though
In OMOs:
- inject 10 bn yuan via 7-day reverse repos
- inject 100 bn yuan via 28-day reverse repos
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Also, NDRC announce it approved around $26.5bn in fixed-asset investments in December. And, more:
- Says economy generally stable, continuing momentum from second half of 2016
- China's economy still faces internal and external complexities
- Government will promote stable, healthy development of property market
The Chinese government has probably looked at Australia as an example of an unstable, unhealthy development of the property market and said "Nuh-uh' ;-) ).
(NDRC is the National Development and Reform Commission. China's economic planner)
