The PBOC allows the yuan to fluctuate within a +/- 2% range, around this reference rate. More here on this.Bank injects 258bn yuan via overnight reverse repos, no 7-day RRs---As background on the overnight OMOs:Explainer: China eyes overnight rate as main policy tool, what it means for markets This article was written by Eamonn Sheridan at investinglive.com.