The People's Bank of China devalued the onshore yuan again today at the refence rate setting

Taking USD/CNY to its highest (and thus lowest for the CNY) since May 12 2017

The market has enthusiastically endorsed the move (as it has been for a while now :-D ) taking USD/CNY now above 6.9

Meanwhile, more National Development and Reform Commission comments:

  • China will maintain proactive fiscal policy
  • China will maintain prudent monetary policy
  • Chia to firmly curb home price rises

Yeah, K tks …. eyes on the currency though:

The yuan has suffered from the USD strength, but (broken record time) its also slumped against the currencies in its basket.