Free Trial

USD/CNH Dips On Reuters Headline That State-Owned Banks Have Sold Dollars

CNH

USD/CNH has moved back sub 7.1600 on headlines from Reuters that China's major state owned banks have been selling dollars to buy the yuan in both onshore and offshore markets in early Asia Pac trade today. USD/CNH last tracked in the 7.1570/80 region. We were in the 7.1630/40 region before the headlines hit. USD/CNY is around 7.1570 currently. Equity sentiment remains positive, the HSI last +3.25%, while the mainland properties index was +11.75%. The CSI 300 is +2.2%.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.