Free Trial

USD/CNH Off Highs, Intervention Headlines & Better Property Equity Tone Helping

CNH

USD/CNH sits off its highs, the pair last near 7.3180, earlier highs were at 7.3278. Reuters headlines have crossed of state banks selling USD's onshore and withdrawing liquidity from the offshore market. Spot USD/CNY is also lower, back near 7.3160, earlier highs were at 7.3217.

  • A slightly better tone to local equity market sentiment, with developers doing well (+5%) (this follows earlier onshore media reports, calling for a further reduction in property restrictions), is also helping FX sentiment. The HSI is also away from lows, last down -0.55%, against earlier weakness beyond 1%.

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.