-
post: PBoC Sets Yuan Mid-Point At 7.1098 / Dollar Vs Last Close 7.2416 - Weakest Since January Amid Dollar ReboundPBOC sets USD/ CNY reference rate for today at 7.1098 (vs. estimate at 7.2451) PBOC injects 2bn via 7-day RR, sets rate at an unchanged 1.8% • 2bn mature today. • Thus neutral in OMOs today.
-
We have seen a sizeable drop in precious metals prices today, with gold off by 1.2% and silver about 2% worse off compared to Tuesday’s close. The drop has coincided with a recovery in the US dollar. We have heard some hawkish-leaning remarks from various Fed officials this week, while the RBNZ talked up the prospects of another rate rise overnight. In the ...