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The PBOC allows the yuan to fluctuate within a +/- 2% range, around this reference rate.Previous close 6.9140PBOC inject 78.5bn yuan via 7-day RRs @1.4% and 400bn yuan via 14-dayers @1.65%Earlier:ICYMI – PBOC pledges loose policy, ample liquidity
This article was written by Eamonn Sheridan at investinglive.com.
💡 DMK Insight
The PBOC’s liquidity injection signals a commitment to support the yuan, and here’s why that matters right now: With the yuan’s previous close at 6.9140 and the central bank allowing a +/- 2% fluctuation, traders should keep a close eye on how this affects the USD/CNY pair. The injection of 78.5 billion yuan via 7-day reverse repos and 400 billion yuan via 14-day operations indicates a proactive stance to ensure liquidity in the market. This could lead to a short-term weakening of the yuan, especially if market sentiment remains bearish on Chinese economic prospects. However, the broader context is crucial. If the PBOC maintains this loose policy, it could create a ripple effect across other currencies, particularly in emerging markets that are sensitive to yuan fluctuations. Traders should monitor the 6.8 and 7.0 levels on the USD/CNY chart for potential breakout points. Watch for any economic data releases from China that could impact sentiment and volatility in the coming weeks.
📮 Takeaway
Keep an eye on the USD/CNY pair around the 6.8 and 7.0 levels as PBOC’s liquidity measures could lead to significant volatility.
