Earlier today there was a bit of social media turmoil over mispricing on USD/CNY
I posted on it first thing my morning:
- Can someone tell me how I get a dealing price from Google on USD/CNY (they're WAY off)
Then had to repeat it:
- I'm gonna repeat this - USD/yuan is NOT anywhere near 7.4
Now the People's Bank of China setting the mid-rate for USD/CNY. A stronger CNY today (not surprising given the USD weakness since this time yesterday)
In OMOs:
- PBOC to inject 30bn yuan via 7-day reverse repos
- PBOC to inject 20bn yuan via 14-day reverse repos
- PBOC to inject 10bn yuan via 28-day reverse repo
