Spot USD/CNH just had a look below the Asia session low of CNH6.7201 and Aug 10 low of CNH6.7164, lodging its worst levels in six months at CNH6.7147. Renewed pressure to the pair into the London morning has been paralleled by broader greenback sales, with the BBDXY index falling to new intraday lows. The rate is now back above the CH6.72 mark and trades at CNH7.206, down 59 pips on the day.

• PBOC speak hit the wires in the Asia/Europe crossover, with Dep Gov Xuan pushing back against the idea of launching massive monetary stimulus. The official noted that the central bank would seek to balance stabilising economic growth, jobs and prices. The PBOC's head of monetary policy department added that the institution is studying additional structural tools to stabilize the real estate market.