Offshore yuan is leaping higher

Tracking yuan moves, these from earlier – a higher than expected reference rate for the CNY (lower than expected USD/CNY):

Offshore yuan rose:

And its higher again (lower USD/CNY):

I posted earlier that the PBOC would seek to slow the fall for the yuan.

ps. Yuan has AUD on a string, AUD/USD higher

This article was written by Eamonn Sheridan at Source