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USD/CNH Above 6.9000, Testing 100-Day EMA

CNH

USD/CNH is spiking higher, pushing above 6.9000. We are close to the 100-day EMA (6.9038), last around 6.9020/30, down slightly from a high of 6.9040. Onshore and HK equity weakness, although losses are less than 1% at this stage, looks to be weighing on CNH sentiment at the margin. Onshore USD/CNY is also tracking higher, but remains below 6.9000 for now (6.8960/65 last).

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