Onshore yuan trades at its weakest against dollar since November last year

In the wake of the Chinese rate cut onshore yuan is falling. Its hit its lowest (highest for USD/CNY) since November 20 2023:

• PBOC Rate CUT ___ (LPR): 1-year 3.45% (prior 3.45%) 5-year 3.95% (prior 4.20%)
• China's largest ever cut to its benchmark reference rate for mortgages