While we await the yuan fix around 0115GMT, an article from Bloomberg with Citi's view on the yuan

  • China's share in global exports surged to 15 percent this year, from 8.7 percent in January 2010, according to data compiled by Bloomberg
  • The People's Bank of China said Thursday that there's no basis for currency depreciation to persist
  • Citigroup Inc. said the resilience of exports and their diminished role in driving growth suggest the benefits from a larger weakening of the currency would be limited for China, while threatening to accelerate capital outflows.
  • "There's no obvious evidence that Chinese corporates and exporters are arguing for a weaker exchange rate," David Lubin, head of emerging-market economics at Citigroup in London ... "The aim is not to start a currency war, nor is it primarily to support growth."

More at the article, here, not gated

Earlier: PBOC yuan fix due at 0115GMT ... what the rate will be