Danger zone ahead: USDCNY to 6.90 region

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It's starting to get exponential. This means more expensive for PBOC to fight against capital outflow.
- 0.1% NIRP by BOJ will not have an effect on JPY appreciation due to China capital outflows. 6.90 means about 10% and market expects a depreciation in the range of 20%.
- further depreciation steps of PBOC likely after unexpected action by BOJ

It is going to get ugly once this starts, but the faster the action will be, the more credibility of CB's will be left...
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