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USD/CNH Off Over 1%, Slipping Off Record Highs

CHINA
  • The USD downtick this morning most evident against the CNH, prompting USD/CNH to extend the day's weakness to over 1%.
  • No headlines or newsflow to trigger the CNH move, but will raise suspicion of intervention via state-run banks as we've seen in recent weeks.
  • Recall yesterday USD/CNH hit record highs and the Chinese authorities conducted a survey of banks to gauge both positioning and market sentiment toward the currency
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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