The People’s Bank of China (PBOC) injected CNY700 billion via one-year medium-term lending (MLF) facility on Monday.
The Chinese central bank issued the one-year MLF at 2.95%, unchanged from the previous operation. The PBOC kept the rates unchanged for the fourth straight month.
Market reaction
USD/CNY is under pressure, looking to extend further below 6.9500 while the Chinese currency shrugs-off the latest PBOC operation. The spot trades 0.07% lower at 6.9455, at the time of writing.
Meanwhile, the AUD/USD pair builds on Friday’s gains but remains capped below 0.7200, with US-China tensions weighing negative on the market mood.
Reprinted from FXStreet，the copyright all reserved by the original author.
Disclaimer: The views expressed are solely those of the author and do not represent the official position of Followme. Followme does not take responsibility for the accuracy, completeness, or reliability of the information provided and is not liable for any actions taken based on the content, unless explicitly stated in writing.
Leave Your Message Now