PBOC sets CNY fix at weakest since May 2008, skips OMO for third straight day
|The People's Bank of China (PBOC) cut yuan's (CNY) daily fix by 197 pips to 6.9574 per US dollar Tuesday - the weakest level since May 2008.
Further, the central bank skipped the open market operation (OMO) for the third day in a row, draining CNY 120 billion from the market.
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