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USD/CNH Pushes Through Thursday Highs

CNH

USD/CNH is through Thursday session highs, getting close to 7.0970. We sit a touch lower now (last around 7.0950). The pair couldn't break above 7.0950 post the Asia close on Thursday. These moves come ahead of the CNY fixing later, which has been benign this past week, not showing any meaningful pushback against depreciation pressures.

  • USD/CNY spot finished yesterday just shy of 7.0800.
  • Broader USD sentiment is mostly positive in early dealings today, mainly against AUD and NZD at this stage.
  • Note Hong Kong markets are closed today, so this may impact CNH liquidity.

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