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(M2)‌‌ Corrective Bounce


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12-month USD/CNY forward points have pulled back sharply in recent weeks.

  • Commerzbank point to the market pricing in monetary easing in China vs. a more hawkish Fed. They suggest that “as the Chinese economy looks to be weakening over the foreseeable future and the Fed sounds more hawkish, for now, USD/CNY forward points are likely to fall further.”

Fig. 1: USD/CNY 12-Month Forward Points

Source: MNI - Market News/Bloomberg

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MNI London Bureau | +44 0203-865-3809 |

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