Morning Bid: Beijing leaves market guessing on yuan

A look at the day ahead in European and global markets from Wayne Cole. The People’s Bank of China seems to like being enigmatic, throwing the market a curve ball as it fixed the yuan weaker against the dollar than many expected. Dealers had thought the firmer fix on Tuesday meant Beijing was signalling it wanted the yuan’s fall to slow, or even stop. Now, not so much. The result has been a drop in the offshore yuan back toward Monday’s trough, while the market waits for some clarity on Beijing’s intentions. Sentiment was also not helped by a Wall…