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CNH: Modestly Weaker As 14 day Repo Rate Cut by 10bps

CNH

A lot of speculation around lower rates in China to support the economy over recent months. The recent outperformance of the yuan seen as helping facilitate such a move. USD/CNH up smalls so far post the move, although found selling interest above 7.0500. Note we have the 1yr MLF on Wednesday.

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A lot of speculation around lower rates in China to support the economy over recent months. The recent outperformance of the yuan seen as helping facilitate such a move. USD/CNH up smalls so far post the move, although found selling interest above 7.0500. Note we have the 1yr MLF on Wednesday.