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USD/CNH Pushing Higher Ahead Of CNY Fixing

CNH

USD/CNH is back to 7.1900, ahead of the upcoming USD/CNY fixing. On two occasions overnight the pair couldn't hold a break above this level (7.1910/15 was the high). The CNY fix will be eyed given the reintroduction of the countercyclical factor (CCF). Note the 4:30pm close yesterday for USD/CNY was 7.1580, versus the end of session close at 7.1761.

  • Broader USD sentiment is firm, with the DXY up another 0.26% so far today.
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USD/CNH is back to 7.1900, ahead of the upcoming USD/CNY fixing. On two occasions overnight the pair couldn't hold a break above this level (7.1910/15 was the high). The CNY fix will be eyed given the reintroduction of the countercyclical factor (CCF). Note the 4:30pm close yesterday for USD/CNY was 7.1580, versus the end of session close at 7.1761.

  • Broader USD sentiment is firm, with the DXY up another 0.26% so far today.