Yuan Fix to Fall Into 6.60s

USDCNY climbed to 6.64 today and given the selling of foreign currencies and the fact that Yuan Follows Dollar Down, But Not Up, a fix in the 6.60s is likely coming up. For more on the yuan's tie to the weak dollar, but not strong dollar, see Calm Before the Dollar Storm.

Looking past the Brexit noise, this is the type of move that could have staying power given everything else going on in the markets.

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