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CNH Edges Higher as WSJ Report on Likely Small Tweaks to Zero COVID Strategy

CHINA
  • WSJ reports that Chinese Leaders are weighing steps toward Zero-Covid reopening, but no timeline has been set, according to sources. Nonetheless, a return to pre-pandemic levels of activity is not likely before the end of 2023.
  • Small step lower in USD/CNH on the back of those headlines - but nothing in there that's too outside of expectations.
  • Consensus timeline remains for more material announcements to be made in March at the conclusion of the political reshuffle.
  • 7.1961 marks the overnight low in USD/CNH, with Friday's 7.1725 just below there.
  • WSJ article on that story here: https://www.wsj.com/articles/china-weighs-zero-cov...
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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