Onshore yuan closes at 6.6621 per dollar, up 48 pips

A modestly firmer close is less telling than the way the session split: the onshore rate finished above both the previous official and overnight levels, suggesting the gain built through the day rather than being inherited. For a currency watched as a barometer of capital-flow sentiment, that intraday pattern carries more signal than the pip count itself. Whether the fixing follows through in subsequent sessions is the open question.