<p>The estimate by Reuters is for a reference rate at 7.008.</p><p>This is the first peek above 7 for the estimate during the current bout of CNY weakness. Note, however, that the People's Bank of China have been setting the actual mid-rate below the estimate for the past 3 weeks or so. </p><p>The setting is due at 0115 GMT. </p><ul><li>USD/CNY is the onshore yuan. Its permitted to trade plus or minus 2% from this daily reference rate.</li><li>CNH is the offshore yuan. USD /CNH has no restrictions on its trading range.</li></ul><p>Chart is the offshore yuan:</p>
This article was written by Eamonn Sheridan at forexlive.com.
