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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.
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Bitcoin price started a downside correction after it struggled above the $71,500 level. A new weekly high was formed at $71,896 and the price recently started a downside correction. The price declined below the $70,000 level and tested the 50% Fib retracement level of the upward wave from the $66,046 swing low to the $71,896 high. There was also a spike ...