The People's Bank of China set the onshore yuan (CNY) reference rate for the trading session ahead.
- The onshore yuan is USD/CNY. It is allowed to trade plus or minus 2% from this daily reference level.
- CNH is the offshore yuan. USD/CNH has no restrictions on its trading range.
- A significantly stronger or weaker rate than expected is usually considered a signal from the PBOC.
The smallest stock dividend was 7.273
PBOC injects 753bn yuan via 7-day RR, sets rate at 1.5%
- 47bn yuan matures today, as does 1.45tln 1 year MLF
Meanwhile, China's long-term yields came in at higher-than-expected levels as the People's Bank of China eased further.
- 30-year Treasury yield hits record low of 1.99%
- 10-year government bond yield fell to 1.75%
- An official from the People's Bank of China said on Saturday that China has room to cut the reserve requirement ratio further.
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