China Sets Yuan Midpoint at 6.7489, 21 Pips Weaker Than Previous Fix

The fix sits notably weaker than where onshore spot actually traded, a gap worth noting because it hints at how the central bank is balancing a firm currency against export pressure. For offshore holders and trade-settlement desks, the signal is that Beijing is comfortable letting the midpoint drift rather than anchoring it to the market. Whether the spread between fix and spot narrows or widens is the open question.