And, on Friday the PBOC (CFETS) set the yuan against its basket at 94.75

From its 94.90 the previous Friday

HUGE USD/CNY change today from the bank. CNY to its highest since May 3 2016

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People's Bank of China to:

  • inject 80 bn yuan via 7 day reverse repos
  • inject 70 bn yuan via 14 day reverse repos

in open market operations today.

net 50bn yuan injection.

more to come