Morgan Stanley comments on the yuan (or the renminbi as the report calls it ... ps. I refer to it as the yuan 'cause its quicker to type :-D )
- They note the offshore-onshore spread (i.e. CNH - CNY) continues to widen
- Spread around all time highs
MS note that while the yuan is weaker against the USD, on a trade-weighted basis its reasonably stable. But on its NEER (nominal effective exchange rate) basis its "trading closer to the bottom end of the sideways band since mid-August" ... and "some stabilization will be required soon if this is remains the case" ... i.e potential intervention to support the yuan from the People’s Bank of China
