This chart from Bloomberg shows the jitters in the yuan market today morning. The google search for yuan exchange rate was showing an erroneous value of 7.48 yuan per dollar at a time when the yuan was trading around 6.87 per dollar. It was quite a sensation as it was before PBoC declared its central mid- point for the day.
However, this Bloomberg chart shows that it was not just Google but the largest electronic broker was quoting this incorrect value.
The initial rise to 7.48 looks very intriguing.
