The People’s Bank of China set the mid point for the USD./CNY slightly lower today, which is a yuan strengthening
Here's the chart for the USD/CNY, so far:
Yesterday I highlighted what I thought was intervention in the offshore yuan (CNH).
Note what I said there, its not the intention of the PBOC to strengthen the yuan, they are just smoothing the move somewhat, trying not allow it too easy for speculators against the currency.
This isn't over.
