We've seen on-going weakening of the yuan as Eamonn posted earlier
USDCNY has since posted 4 1/2 year lows above 6.4500 breaching the post-devaluation level and heading for biggest weekly falls since August
Talk of PBOC intervening around 6.4500
Earlier this week PBOC reported a reduction in fx reserves confirming their on-going attempts to keep the depreciation contained
Question now is how far they can/are prepared to let it fall
