Offshore yuan slips 38 pips to 6.6739 per dollar in second straight decline

A 38-pip move is routine noise, so the signal here is the direction rather than the size: two consecutive daily declines in offshore trading, with the intraday range showing the pair pushing toward the weaker end before settling. Offshore pricing matters because it reflects sentiment outside mainland controls, making it a useful gauge of how external flows are leaning. Whether the move extends into a third session is the open question, and the intraday high is the level worth watching for signs the pullback is broadening.