The People's Bank of China has allowed the onshore to weaken, although not as aggressively as many in the market had thought
Estimates for today's mid rate I have seen, 7.0222 and 7.0160
The thing to watch is in what direction and how far from those estimates the rate comes in. Yesterday we had a USD/CNY mid rate well under forecasts (ie a stronger CNY setting than expected) which saw CNH and 'risk' benefit.
offshore yuan update:
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Earlier news rattling the yuan:
