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CNH Spikes as Pelosi Plane Maintains Course for Taiwan

CROSS ASSET
  • Markets monitor a sharp move lower in USD/CNH in recent trade - with no adjacent headlines or news crossing to justify the move.
  • Flightradar24 still shows SPAR19 flight tracking toward Taiwan (estimated landing time is 2130-2230 local time, so 1430-1530BST / 0930-1030ET).
  • The plane is currently off the eastern coast of the Philippines headed toward the southern tip of the island of Taiwan. Some unverified reports circulating that US escorts could be in the air alongside SPAR19 (Pelosi's assumed plane).

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