On Wednesday, the People’s Bank of China (PBOC) sets the USD/CNY reference rate at 6.5749 vs. Tuesday’s 6.5809.
The PBOC injected a CNY120 billion via seven-day reverse repos in open market operations (OMOS) while CNY100 billion matured.
Therefore, the net injection stood at CNY20 billion, the same as that seen on Tuesday.
USD/CNY better bid above 6.5900
USD/CNY is looking to extend its winning streak into the third day on Wednesday, despite the latest declines in the US dollar across the board.
At the press time, the cross adds 0.10% to trade at 6.5915.
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