CFETS: Yuan Exchange Rate Index Rises 0.27 to 103.20 on Sept 30

A single daily index print with no attribution is thin material on its own, so the signal lies less in the 0.27 gain than in the fact that CFETS published it without a breakdown. The basket index matters because it captures the yuan's broad, trade-weighted position rather than the headline dollar pair that tends to dominate commentary. Whether this is a one-day drift or the start of a broader revaluation is the open question, and it will only be answerable once CFETS provides the currency-level detail behind the move.