The effect of selling USD/CNY and /or USD/CNH would be to slow the yuan falls
Some talk that that is what happened on Thursday, Chinese state-owned banks in the market
Hourly USD/CNH chart:
We get the USD/CNY reference rate around 0116GMT. There was a big revaluation for the CNY yesterday at the setting, but I don't think (IMO) it heralds the end of the yuan deprecation cycle. I posted as much yesterday:
Feel free to agree or disagree, at least there is a (golden oldie) funny vid in the post ;-)
