Sources: China state banks said to be mopping up dollars via swaps in CNY forward markets - Reuters

Reuters quotes sources on Wednesday, as saying that the Chinese state banks are said to be mopping up dollars via swaps in the onshore Yuan forward markets.

Meanwhile, the USD/CNY pair is back on the bids near 7.0317 after the PBOC set the Yuan reference rate weaker at 6.9996 vs. 6.9683 previous.