The PBOC is allowing the onshore yuan, CNY, to weaken, but not as rapidly as expected.

  • estimates for today's mid rate I saw were 7.0205 and 7.0130
  • But the yuan set stronger than both of those at 7.0039, weakest for CNY since 2008.

Trade in offshore yuan turned around sharply:

via GIPHY

Oh, chart:

The PBOC is allowing the onshore yuan, CNY, to weaken, but not as rapidly as expected.

So, should be a positive for risk if trade this week is anything to go by.