I posted earlier on likely moves from the People's Bank of China to slow down the drop for the yuan: • Yuan has had a one-way ticket to weakness. The PBOC have been supportive of the devaluation, a lower yuan is a form of stimulus for the export sector. The rapid pace of the fall is expected to result in the PBOC moving to slow the descent. Which is what we have today. While the CNY is weaker, its been set not nearly as weak as was expected: • PBOC sets USD/ CNY central rate at 7.2098 (vs. estimate at 7.2194). USD/CNH has dropped (CNH is the offshore yuan, its gained from its earlier lows on the back of the PBOC CNY ... (full story)

The AUD is a dog on a lead, yuan in charge. Earlier, A higher than expected reference rate for the CNY (lower than expected USD/CNY): • PBOC sets USD/ CNY central rate at 7.2098 (vs. estimate at 7.2194). Offshore yuan rose: • PBOC set the onshore yuan stronger thann expected, USD/CNH tumbling. And its higher again (lower USD/CNY) AUD/USD following the yuan higher: {chart} (full story)