USD/CNY: Yuan strengthens for the 3rd day in a row

Livesquawk reports latest rumors doing the rounds that the Chinese state owned banks are selling USD/CNY for the third consecutive day, in a bid to halt the Yuan depreciation.

On Wednesday, the PBOC set the yuan reference point against the US dollar at 6.8865, 153 basis points or 0.03% stronger than Tuesday's fix of 6.8889.