Investing.com - The People's Bank of China set the yuan's central parity rate against the U.S. dollar at 6.1224 Thursday, lower than Wednesday's 6.1192. The market has been closely watching the yuan parity rate as the PBOC attempts to unify onshore and offshore quotes.
Turmoil in the Chinese currency and stock markets sent investors running for the cover of the bond market on Wednesday, which marked the first time spot yuan has traded stronger than its previous close since the previous Wednesday. Traders said "Big Four" state banks aren't buying dollars as aggressively as they have been, though its unclear if they've been told to hold off on orders from the PBOC.