In case you hadn't guessed ... I had an outage and was offline for a while ... back now (OBV. :-D )
I put something like this in a comment .... just thought I'd post it too.
Yesterday the PBOC gave us two divergent viewpoints for today
1. They said yesterdays big yuan devaluation move was a one off, not be repeated soon
2. They also said the fix each day would be much more responsive to market prices
Given the close of USD/CNY was much higher than the mid-point set yesterday, those 2 points were inconsistent, they could not both be true.
They've gone with point 2 over point 1.
Today, at least.
