Major state owned banks in the market selling USD/CNY.
Offshore yuan moving alongside:
![usdcnh china intervention 02 April 2024 2](https://images.forexlive.com/images/usdcnh%20china%20intervention%2002%20April%202024_id_ab322551-bce3-4e9d-b44f-b5c5a4049411_size900.jpg)
CNY and CNH have both been weakening, this intervention from state-owned banks is aimed at providing some support for the hapless yuan.
Major state owned banks in the market selling USD/CNY.
Offshore yuan moving alongside:
CNY and CNH have both been weakening, this intervention from state-owned banks is aimed at providing some support for the hapless yuan.