CNY set lower again today by the PBOC against the USD. A look at the index (also lower)

A spoiler in the headline to a lower RMB against its basket, this a look at the CFETS index:

The perception the yuan was falling due to a surging US dollar was a bit of a common refrain. But, we kept an eye on its index (basket of currencies), which clearly shows the yuan having given back a year's worth of gains since mid-June. So, bot just US strength.

Just checking in on it; Friday's CFETS rate was lower again, to 92.69 from 92.95 the previous Friday.