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USD/CNH Dips Below 7.2900, But Not Much Follow Through

CNH

USD/CNH has dipped in recent dealings, the pair getting to fresh session lows of 7.2830. We sit higher now, last near 7.2910. We were sitting closer to 7.3000 prior to this move. There doesn't appear any obvious catalysts for the move, although broader USD sentiment remains weaker against the majors, with higher beta plays outperforming at the margins (BBDXY off -0.13%).

  • Onshore equities have been in the red today, but sit above session lows. This weaker tone hasn't impacted FX sentiment today though. The HSI is tracking higher, last +0.45%.
  • For USD/CNH yesterday's lows came in just below 7.2700, so we remain within recent ranges.

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