USD/CNY opens trade a big figure higher than the mid point, opens at 6.5750
(set was 6.5646 for the hair-splitters)
CNH-CNY spread at a 5-year high (market thinks there is more yuan weakness still to come)
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I expect we'll begin to see some PBOC intervention chatter soon, even if just to calm these swings and not necessarily to strengthen the yuan too much
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Oh, and a ps. on the stock markets. the first 'circuit breaker' (a 15 minute suspension of trade) will kick in if index falls 5%
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Meanwhile, Chinext 'growth board' is down more than 4% ("Negative growth board'?)
