When I say 'looks like' …. yeah … 'is'.

  • Big state banks in China selling USD/CNY
  • around 6.97 in USD/CNY

USD/CNY came back to under 6.96 and circa 6.9625 as I update

--

I reckon they'll be slowing the fall of yuan only.

Think of this a speed bump, not the end of the road for a lower yuan.

ps. Chinese stocks are seeing a come back after opening lower.