We'll get the first reference rate for the onshore yuan for the week soon from the People's Bank of China.
This will be the first since the Bank cut is reserve requirement over the weekend:
- More on the PBOC cut over the weekend (500 billion yuan "unlocked")
- China cuts reserve requirements for some banks after stock market slump
(ps. if you want an early heads up on these moves from the PBOC, be sure to follow along with these guys who had news of the imminent cut on Thursday last week.... Oh, yeah its us! )
Its expected to weaken the CNY further, the offshore yuan is already on the move: