The Traderszone Network

Published in TZ Latest News 7 August, 2016 by The TZ Newswire Staff

People’s Bank of China sets yuan reference rate at 6.6615 (vs. Friday at 6.6406)

The USD/CNY mid point is set each business day by the PBOC. USD/CNY is then permitted to trade plus or minus 2% from this reference rate.
The bank setting the mid point higher, i.e. a weaker yuan today. Given the strength of the USD following the NFP result on Friday in the US a higher USD/CNY is not surprising.