The People's Bank of China set the onshore yuan (CNY) reference rate for the trading session ahead.
The previous close was 7.273
more to come
Meanwhile, China's long-term yields hit record lows on expectations of further People's Bank of China easing ahead.
- 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 previous close was 7.273
more to come
Meanwhile, China's long-term yields hit record lows on expectations of further People's Bank of China easing ahead.
- 30-year treasury yield hit a record low of 1.99%
- 10-year government bond yield fell to 1.75%
- A People's Bank of China official said on Saturday that China has room to further cut the reserve requirement ratio