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USD/CNH Finds Support at European Morning Low

CNH
  • USD/CNH pressing to the lowest levels of the European morning, but 6.8667 holds as support for now. Further downside in the pair would open last Friday's lows of 6.8583 for direction ahead of the 50-dma of 6.8411.
  • Moves are muted at these levels, however focus remains on the Kremlin, with Xi meeting with Putin to conduct high levels talks on China's peace plan for Ukraine - a settlement highly unlikely to be accepted or progressed by Kyiv due to the notable implied concessions to Moscow. Putin is expected to comment on the plans at some point later today.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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