I posted yesterday on the ongoing efforts from the PBOC to slow the fall of the yuan:
Awaiting the yuan reference rate setting, PBOC likely to hold USD/CNY under 6.9 today
And, sure enough, they did:
PBOC sets USD/ CNY reference rate for today at 6.8802 (vs. estimate at 6.9076)
Given that huge gap between the estimate and the actual there is chatter about that the Bank is using an adjusted fix mechanism. We may get further clues soon. The reference rate setting for today is incoming, just after 0115 GMT. I'll have the day's rate posted then.
It's the same story today, the People's Bank of China is expected to not devalue the CNY as much as is expected. the estimate today is reported at 6.9106.
Offshore yuan, USD/CNH is holding above 6.9:
