China Securities Daily cite analysts – yuan downside is limited with recovering economy

<p>This report today is echoing the same from last week:</p><ul><li><a href="https://www.forexlive.com/centralbank/chinese-state-media-talking-up-the-yuan-recovering-economy-will-return-confidence-calm-20230908/" target="_blank" rel="follow"> with gradual recovery of the broad economy, there can be a little more confidence and calm with the yuan exchange rate</a></li></ul><p>The PBoC is set to weaken onshore yuan again today (not as much as this headline implies, but the direction is lower for the CNy):</p><ul><li><a href="https://www.forexlive.com/centralbank/pboc-is-expected-to-set-the-usdcny-reference-rate-at-73437-reuters-estimate-20230911/" target="_blank" rel="follow" data-article-link="true">PBOC is expected to set the USD/CNY reference rate at 7.3437 – Reuters estimate</a></li></ul><p>Offshore yuan update:</p>

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