China onshore yuan finishes the domestic session by erasing yesterday's losses

In case you missed the headlines from earlier:

• PBOC sets USD/ CNY reference rate for today at 7.1466 (vs. estimate at 7.2233)
• PBOC eases cross-border funding
• ICYMI - yuan rocketed higher with the PBOC slamming the fix, and promoting capital inflow

There was a big drop in the Chinese yuan yesterday and local authorities have responded by punishing speculators today. In turn, that has helped with giving the aussie and kiwi an indirect boost.