The People’s Bank of China cut the MLF to 2.5% from 2.65 previously:
And cut the reverse repo rate to 1.8% from 1.9% previously
Offshore yuan, CNH, getting sold healivly:
Coming up at the top of the hour, China economic data for July:
I think it fair to have low expectations for these given the PBOIC has cut rates.
This article was written by Eamonn Sheridan at www.forexlive.com. Source