PBOC injects 85bn yuan via 7-day reverse repos
CNY a lot lower today, the USD strength after the FOMC prompting a much higher USD/CNY mid point from the People's Bank of China
They are busy at the PBOC, not only injecting funds into the money market but they have a committee to tell us a central rate for the CNY against the USD each day.
USD/CNY is then allowed to vary by plus or minus 2% from the 'reference rate' on the day.
No more than that, K?
