The People’s Bank of China (PBOC) set the USD/CNY central rate for the trading session ahead on Friday at 7.1938 as compared to the previous day's fix of 7.1963 and 7.2085 Reuters estimate.

A simple tow escalates when a woman finds her son's car being hauled for expired tags. Emotions flare as she tries to talk down the $100 drop fee and pleads her case. Real repo tension - real fast.

Monetary policy has grown more effective. RBI’s rate-formula tweak for corporate lending may have made a difference.