PBOC sets USD/CNY reference rate at 6.5593

The People’s Bank of China (PBOC) sets the USD/CNY reference rate at 6.5593 vs. Tuesday’s 6.5762.
The central bank set the midpoint at the strongest level since end-June 2018.
The PBOC injected CNY100bn via seven-day reverse repos in open market operations (OMOS).
USD/CNY unfazed
USD/CNY is in a downside consolidation phase near 29-month lows of 6.5496, unfazed by the fix.
The spot was last seen trading at 6.5561, almost unchanged on the day.
Author

Dhwani Mehta
FXStreet
Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.
















