Onshore yuan closes at 6.6482 per dollar, up 76 pips

A single session's move of this size says little on its own, but the pairing of a firmer close with a heavy turnover figure is the detail that stands out: it suggests the move was carried by real flows rather than thin liquidity. For offshore participants and anyone with yuan-denominated exposure, the relevant question is whether the onshore fix continues to track broader dollar sentiment or starts diverging. The next few sessions' volume alongside the fixing will show whether this is routine noise or the start of a steadier tone.