Yesterday's USD/CNY rate from the People's Bank of China was the bell that signalled an end to the burst of fear that had seen risk slide in the early hours on Monday
- (check out the link for the as-it-happened heads up on this)
For today the estimate I've seen is for a big fall for the CNY, via Reuters comes a mid rate expectation of 7.1055 (yesterday's was 7.0570). I dunno, I can't see a 400+ point drop for the CNY (a higher USD/CNY is a drop for the yuan), but there you go.
