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.
This article was written by Arno V Venter at www.forexlive.com.
