I posted earlier on intervention Tuesday:
State bnaks have been sighted once again selling USD on Wednesday morning.
The impact so far (this is offshore yuan):
![usdcnh intervention state banks 06 December 23](https://images.forexlive.com/images/usdcnh%20intervention%20state%20banks%2006%20December%202023_id_4c1c968b-59f6-4dd8-913b-e13240a9e0bc_size900.jpg)
Earlier the PBoC set the reference rate stronger than expected for the CNY:
But, they have been doing so for many months.