The yuan fixing was a huge shunt from Friday, the biggest one-day change in the reference rate since 2005.
PBOC sets USD/ CNY reference rate for today at 7.0899 (vs. estimate at 7.0896)
The news flow out of China has been very notable indeed, changes to COVID and property sector support policy:
- China property stocks surging on news of rescue package
- Oil is getting a lift from the new economy-support policies in China
Onshore yuan has strengthened beyond 7.05, as has the offshore. Chart is of CNH, daily:
