PBOC Sets Yuan Midpoint at 6.7168 per Dollar, 12 Pips Weaker

The gap between the fix and the onshore close is the detail that matters here: the midpoint sits well above where the market actually finished the prior session, implying the fixing is leaning against, not following, spot. That divergence affects anyone with yuan exposure — importers, exporters and offshore traders — because it signals the daily reference rate is being managed rather than left to drift with the market. Whether that gap persists in coming fixings is the open question.