Morgan Stanley comments on the yuan (or the renminbi as the report calls it … ps. I refer to it as the yuan ’cause its quicker to type 😀 )
– They note the offshore-onshore spread (i.e. CNH – CNY) continues to widen
MS note that while the yuan is weaker against the USD, on a trade-weighted basis its reasonably stable. But on its NEER (nominal effective exchange rate) basis its "trading closer to the bottom end of the sideways band since mid-August" … and "some stabilization will be required soon if this is
remains the case" …