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Offshore yuan at its lowest since November last year as the PBOC relaxes its grip on CNY

Offshore yuan at its lowest since November last year as the PBOC relaxes its grip on CNY

Central Banks
Eamonn Sheridan
20/06/2024 | 01:49 GMT

I posted earlier in the week the good info from HSBC on the PBOC allowing the onshore yuan to weaken a little:

Which its done, setting the CNY at its lowest since November 2023 today:

USD/CNH has popped higher, also to November 2023 levels:

usdcnh nov 2023 highs 20 June 2024 2

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