USD/CNY is the onshore yuan. Its permitted to trade plus or minus 2% from this daily reference rate.
CNH is the offshore yuan. USD/CNH has no restrictions on its trading range.
A significantly stronger or weaker rate than expected is typically considered a signal from the PBOC.
The previous close was 6.7600

A big jump for the CNY (drop for USD/CNY) as it was with other currency moves against the USD since the FOMC decision.

The PBOC injects 2 yuan via 7-day reverse repos (rate remains at 2.1%)

  • 3bn yuan mature today
  • thus a net 1bn yuan drain in OMOs today