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The yuan opened at 6.5717 against the....>

CHINA YUAN
CHINA YUAN: The yuan opened at 6.5717 against the U.S. dollar Wednesday, weaker
than Tuesday's official close of 6.6.5560 and also weaker than today's central
parity rate of 6.5569, which is the lowest since December 25, 2017.
- USDCNH remains just shy of resistance at 6.60, which marked the breakout level
in December 2017 following months of sideways trading. There is no significant
resistance beyond this level, but we would expect to see the PBOC step up
efforts to defend the currency should yuan weakness continue. 
- Even though policymakers are likely welcoming the weakness, it is increasingly
turning into a rout, which could shake economic confidence, as well as
potentially draw ire from the US administration. 

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