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USD/CNH Pushes Through Monday Session Highs

CNH

USD/CNH is tracking higher, last around 6.9140/50, which is above Monday session highs. We are right on highs that have prevailed going back to mid-March. A clean break higher paves the way for a move towards the 200-day MA around 6.9500. Spill-over from weaker local equity sentiment, coupled with higher USD/JPY levels (which is back to session highs) are headwinds for the currency. Onshore spot has firmed as well, USD/CNY last close to 6.9070, which is also above highs from early yesterday.

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