Offshore Yuan Rises to 6.7015 per Dollar, Up 22 Pips

Three straight sessions of gains in the offshore yuan suggest a persistent, if modest, bid rather than a one-off reaction, and the narrow intraday range points to orderly flows rather than a squeeze. This matters most for offshore participants who use CNH as a proxy for sentiment on Chinese assets, since the onshore rate is subject to a separate fixing regime. The open question is whether the move reflects genuine positioning shifts or simply thin late-New York liquidity; sustained follow-through in wider trading hours would carry more signal.