PBOC reference rate of 7.2098 is much lower than the 7.2510 expected

The reference rate setting is here:

Which is another mid-rate way below what was expected.

In open market operations (OMOs) the PBOC injects 2bn yuan via 7-day reverse repos (RRs) at an unchanged rate of 1.9%

  • 193bn yuan of RRs mature today
  • thus a net 191bn yuan drain on the day in OMOs

Meanwhile USD/CNH is ticking up a little after the setting:

This article was written by Eamonn Sheridan at www.forexlive.com. Source