Earlier post on:
Where I noted:
The PBOC made a small cut to its RRR rate late last week:
And then left its benchmark interest rates unchanged:
It looks like the Bank is providing some economic stimulus by encouraging the yuan to drop:
Offshore yuan, too, very heavy indeed (i.e. higher USD/CNH):
The 3 day move is the l;argest drop since August of 2019.
