The People's Bank of China set the onshore yuan at a weaker rate than Friday today.
Offshore yuan has picked up the ball and is running hard with it. CNH is on approach toward last week's lows as I post.
Yuan is dropping as the trade war with the US escalates. A falling yuan makes imports more expensive and exports cheaper. Which sorta makes me think the devaluation of the currency is a weapon in the trade war. I have heard disputing views but I am not convinced on their merits.
USD/CNH:
Onshore yuan (CNY) is lower also, USD/CNY has broken 6.84 today to its weakest since late June of 2017
