Onshore yuan closes at 6.6955 per dollar, up 18 pips

An 18-pip move is market noise, not a signal: the spot close barely budged against the prior official level, and the gap to the overnight print is similarly trivial. What matters is that the fix and the close are being reported at all — the daily reference rate remains the clearest window into how Beijing wants the currency to trade, and the spot's tight tracking of it suggests little appetite for volatility either way. Whether that calm holds is the open question; for now, this tells us more about the absence of pressure than about direction.