The People's Bank of China set the onshore yuan (CNY) reference rate for the trading session ahead.
The PBoC conintues to support the yuan.
This article was written by Eamonn Sheridan at www.forexlive.com.
- USD/CNY is the onshore yuan. Its permitted to trade plus or minus 2% from this daily reference rate.
- CNH is the offshore yuan. USD /CNH has no restrictions on its trading range.
- A significantly stronger or weaker rate than expected is typically considered a signal from the PBOC.
The PBoC conintues to support the yuan.
This article was written by Eamonn Sheridan at www.forexlive.com.