PBOC 1 of only 2 G10 central banks in easing mode. Weak yuan. Not currency rocket science.

<p>Via National Australia Bank, comments on the Chinese yuan:</p><ul><li>June-to-date changes for major currencies shows the standouts are the
2.9% rise in USD/JPY and 1.8% gain for USD/CNY , against which every
other G10 currency is stronger against the USD. </li><li>Only two major
central banks are currently in easing mode – the PBoC and BoJ. </li><li>This
is not currency rocket science. </li></ul><p>LOL. Yes. </p><p>NAB further on yuan:</p><ul><li>Realistically, the … Yuan (will only reverse course) on hard
evidence of fiscal support for the ailing post-zero covid China
recovery, currently notable by its absence.</li></ul><p>And on the AUD:</p><ul><li>The AUD, after defying
the pull from a weaker CNY in the first half of June, has been back
showing slavish adherence in the last week or, very slightly weaker
Monday (-0.07%) whereas most other G10 currencies are firmer</li></ul><p>

Earlier:</p><ul><li><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" data-article-link="true">PBOC is expected to set the USD/CNY reference rate at 7.2194 – Reuters estimate</a></li></ul>

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