USDCNH Move the Biggest Since Renminbi Introduction

The off-shore Renminbi has not traded for very long. So, it is not a surprise that this USDCNH move is a record. However, better perspective is seeing the move compared to recent price action. Prior to Tuesday's charge, the average true range of the previous 10 days was less than 70 pips. This move blew that average out of the water.