USD/CNY traded to the lowest for the onshore yuan since November of 2020

The smashing of the Chinese yuan continues.

The fixing today was a huge change from its previous.

Monday:

• PBOC sets USD/ CNY reference rate for today at 6.6899

Friday:

• PBOC sets USD/ CNY reference rate for today at 6.6332

The monthly candles show how sharply CNY had dropped:

The candles are based on bids. USD/CNY has traded to above 6.71 today, highest for it since November of 2020