FX Expert Funded

PBOC sets USD/ CNY reference rate for today at 7.1151 (vs. estimate at 7.2620)

Below is an extract from Eamonn’s handy posts regarding the
midpoint setting, and here is some further explanation of what it is and how it

The People’s Bank of China set the onshore yuan (CNY)
reference rate for the trading session ahead.

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.

This article was written by Arno V Venter at www.forexlive.com.

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