Offshore Yuan Closes at 6.7085 per Dollar, Down 6 Pips

A six-pip move is noise, and the real signal here is the volume: $54.667 billion in a single session points to active two-way positioning rather than a directional bet. The gap between onshore and offshore pricing is where the tension usually shows up, since offshore levels tend to lead when sentiment shifts. Whether that turnover reflects hedging demand or genuine repricing is the open question worth watching.