The People's Bank of China just set the onshore yuan weaker again today
Just a heads up, they're gonna have to exercise a bit of care lest they put it into minds that the RMB is on a weaker course. If there is a policy in place to jeep devaluing the yuan it could set in train a course of capital outflow, which China will not want.
Morgan Stanley made this point (from their China economics)
- Stability in the currency is important to China right now, they are seeking funds from offshore
The recent trend in outflows is a little worrying (Morgan Stanley graph):
