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Firmer Dollar Tone Pushes USD/CNH Back Above 7.1400

CNH

USD/CNH has edged higher in the first part of trade this morning. We were last in the 7.1450/60 region. Highs came in earlier just above 7.1480, while lows were around opening levels at 7.1370. CNH is weaker by around 0.10% so far for the session. This is in line with a firmer USD tone in the first part of trade. The BBDXY around +0.10% firmer to 1215, although this index remains within its ranges for the past week.

  • USD/CNH remains comfortably below early highs from yesterday, which were around the 7.1900 level.
  • Coming up we have the CNY fix, which has been skewed towards stronger yuan outcomes in recent weeks. We haven't departed from a 7.1400 handle over the past week either in terms of the fixing outcome.
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