Lower USD/CNY fix helps AUD/USD recover bid tone

FXStreet (Bali) - People’s Bank of China (PBOC) set the yuan reference rate at 6.1327 vs 6.1385 close on Monday, helping recover the bid tone on the AUD/USD.

News wires also informed that the PBOC will drain 100 bn yuan via 28-day repos today with the 7-day repo rate opening at 2.45% vs. 2.30% last close.