There is ... no sign yet that the ECB is even contemplating unilateral intervention on the euro.

Developers see no sign of a 'bubble' bursting.

They've left the deposit rate unchanged, so they clearly don't want to make the yuan any more attractive then it already is.

Talk of repatriation started in mid-July, particularly in Asia, ... Asian equities have performed poorly in recent days and therefore money is leaving Asia and returning to the U.S. Investors are looking to take profits to cover the losses elsewhere.

The euro is heavily undervalued, and in my view it is also clear that intervention cannot be a taboo,

The euro hasn't gained ground with all that has happened, including intervention, both coordinated and unilateral.