USDCNY has seen immediate upside following the weakest mid-point setting by the PBoC since November last year.
We still have some ways to go before we get to 7.36-37 (which was the previous line in the sand where the PBoC stepped in to curb CNY weakness), but worth keeping an eye on it.
![USDCNH chart 2](https://images.forexlive.com/images/USDCNH%20chart%202_id_0940de9a-ed01-4960-9a03-b18859dc13e1_size900.jpg)
USDCNH chart 2