China's Shanghai Comp to open up 2.2%

Today's PBOC fix on USD/CNY, set at 6.5636 vs 6.5646 last, which is significantly lower than Nomura's estimates - projected the fix to be higher by 256 pips from the previous fix (6.5902 from 6.5646) - has seen the likes of the Aussie and Kiwi spike higher. The decision is perceived as risk friendly, given that the PBOC has receded from devaluing the Yuan.