PBOC set the reference rate 400+ lower than expect – yuan traders not fooled a second day

I posted here earlier a bit of a recap of the People’s Bank of China smashing the USD/CNH longs yesterday.

The Bank set today’s rate well below the expected yet again today:

Yuan traders were more wary today though, USD/CNH is not a lot changed since:

This article was written by Eamonn Sheridan at www.forexlive.com. Source