I posted on Tuesday of the jawboning form the People's Bank of China and the intervention to sell USD and buy yuan:
- Looks like intervention spotted in the yuan - big Chinese state-owned banks acting
- PBOC vice gov says is confident can maintain a basically stable yuan
This news is still making the rounds, Tuesday intervention being cited as a factor heling support the RMB again today.
Indeed, USD/CNH is off quite sharply again today (reposting this chart I popped up just a few minutes ago):
