Offshore yuan is leaping higher

<p>Tracking yuan moves, these from earlier – a higher than expected reference rate for the CNY (lower than expected USD/CNY):</p><ul><li><a href="https://www.forexlive.com/centralbank/pboc-sets-usd-cny-central-rate-at-72098-vs-estimate-at-72194-20230627/" target="_blank" rel="follow" data-article-link="true">PBOC sets USD/ CNY central rate at 7.2098 (vs. estimate at 7.2194)</a></li></ul><p>Offshore yuan rose:</p><ul><li><a href="https://www.forexlive.com/centralbank/pboc-set-the-onshore-yuan-stronger-than-expected-usdcnh-tumbling-20230627/" target="_blank" rel="follow" data-article-link="true">PBOC set the onshore yuan stronger thann expected, USD/CNH tumbling</a></li></ul><p>And its higher again (lower USD/CNY):</p><p>I posted <a href="https://www.forexlive.com/centralbank/pboc-is-expected-to-set-the-usdcny-reference-rate-at-72194-reuters-estimate-20230627/" target="_blank" rel="follow">earlier that the PBOC would seek to slow the fall for the yuan</a>. </p><p>ps. Yuan has AUD on a string, AUD/USD higher</p>

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