FX sales by onshore clients to banks, monthly (LHS) New FX loans - FX deposits, monthly (RHS) Source: Deutsche Bank, CEIC, SAFE -30 -20 -10 0 Citi China Data Surprise Index USD/CNY Fixing (RHS, reversed) 6.24 6.29 6.34 6.39 6.19 Spot traded to the top band last time it was widened EFTA01464450 6.