Vice governor of PBOC says Bank has ability to maintain stable FX market operations

The People's Bank of China has a number of vice governors. I'm not sure which one this is, comments being carried by news wires:

• We have confidence, conditions and capacity to maintain stable operations of the FX market
• Forex Forex Forex, also known as foreign exchange or FX, is the buying and selling of one currency for another. The foreign exchange market is the largest financial market in the world, with an average daily trading volume of over $5 trillion. Forex trading can be done through a broker or market maker, and can be done online or over the phone. The vast majority of forex trading is done by businesses buying and selling products along with money managers hedging against currency risk. A portion of the forex m Forex, also known as foreign exchange or FX, is the buying and selling of one currency for another. The foreign exchange market is the largest financial market in the world, with an average daily trading volume of over $5 trillion. Forex trading can be done through a broker or market maker, and can be done online or over the phone. The vast majority of forex trading is done by businesses buying and selling products along with money managers hedging against currency risk. A portion of the forex m Read this Term market is generally stable
• yuan market expectation and cross-border capital flows are relatively stable
• As the Federal Reserve nears the end of this rate hike cycle, USD strength is hardly sustainable
• External impact on the yuan is expected to weaken

I posted earlier to be aware of PBOC moves to slow down the devaluation of the yuan. Its not that the Bank is unhappy with the currency's fall they just don't want it to be too rapid. And its moving quickly now.

This sort of commentary is very gentle verbal intervention only. But intervention it is and may presage something more forceful. A heads up.

Little change for the offshore yuan: