<p class="text-align-start vertical-align-baseline">The People's Bank of China set the onshore yuan (CNY) reference rate for the trading session ahead.</p><ul class="text-align-start vertical-align-baseline"><li class="vertical-align-baseline">USD/CNY is the onshore yuan. Its permitted to trade plus or minus 2% from this daily reference rate.</li><li>CNH is the offshore yuan. USD /CNH has no restrictions on its trading range.</li><li>A significantly stronger or weaker rate than expected is typically considered a signal from the PBOC.</li></ul><p class="text-align-start vertical-align-baseline">The previous close was 7.1953</p><p class="text-align-start vertical-align-baseline">-</p><p class="text-align-start vertical-align-baseline">PBOC injects 329bn via 7-day RR, sets rate at an unchanged 1.8%</p><ul class="text-align-start vertical-align-baseline"><li class="vertical-align-baseline">137bn yuan of RRs mature today</li><li class="vertical-align-baseline">thus a net 192bn yuan injection on the day in OMOs</li></ul>

This article was written by Eamonn Sheridan at www.forexlive.com.