The high earlier in the day briefly clipped 6.74 before a tumble back down to 6.69 in the past few hours. The yuan is heavily correlated to the risk mood and often times the influence can work both ways in markets. But at least there is a consistent message that we are seeing a modest bounce in risk sentiment for the time being.
The offshore yuan has also recovered significantly against the dollar so far today, with USD/CNH falling from 6.77 to 6.72 at the moment.
