The PBOC cracking 7.1 in its USD/CNY fix has sent the USD lower across the board

7.1 is a ’round number’ psychological level for the USD/CNY refernce rate fixing.

Today:

• PBOC sets USD/ CNY mid-point today at 7.0995 !!! (vs. estimate at 7.1281)

This article was written by Eamonn Sheridan at investinglive.com.