PBOC sets USD/CNY reference rate at 6.5786

The People’s Bank of China (PBOC) sets the USD/CNY reference rate at 6.5786 vs. Thursday’s 6.5484.

The PBOC injected CNY80bn via seven-day reverse repos in open market operations (OMOS).

USD/CNY rallies 

USD/CNY jumps to 6.5810, up 0.38% on a daily basis. The cross shrugs off the overnight losses in the US dollar across its main peers, as the risk sentiment somewhat improved on stimulus hopes.