The Australian dollar hasn't been too unhappy with the progressively stronger yuan. Makes Aussie exports cheaper in yuan terms, yeah?

Anyway, for today .... People's Bank of China gives the onshore yuan another big shove higher. To its highest since December of 2015

In Open Market operations, PBOC to:

  • inject 130 bn yuan through 7 day reverse repos
  • inject 90 bn yuan through 14 day reverse repos
  • inject 10 bn yuan through 63 day reverse repos

Net 80 bn yuan injection for the day and a net 590 bn yuan injection for the week as a whole