So says Scotiabank on what to watch for after the upcoming G20 meeting:

  • "After G-20 ends next Monday, the market may want to test how much yuan depreciation the PBOC can tolerate," said Gao Qi, a strategist at Scotiabank in Singapore. "China doesn't want the yuan to move too much during G-20 and become a topic of discussion. SDR's impact will be smaller than G-20."

More at Bloomberg

(ps. I already noted earlier today the RMB has hit a new low (against its basket)


The G20 meeting concludes on September 6 with the leaders summit