There are two yuans, the onshore and the offshore. The offshore yuan often leads the onshore (not always), and its paving the way lower:
The USD is up across the board, overnight and again in the Asian morning. So its hardly surprising the yuan is lower.TBH I am surprised its not lost more ground. The next time we'll get a fix (no pun intended, ok maybe a bit) on the onshore yuan (CNY) will be Monday (October 8), just after 0115GMT (join me for that!).
Anyone up for a 7 for USD/CNY or USD/CNH soon?
