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USD/CNH Rebound Continues Amid Softer Onshore Equity Open & Higher USD/JPY Levels


USD/CNH is back above 7.1600. This is comfortably above Monday session highs (with the 7.1600 region proving a resistance point yesterday). Highs in USD/CNH rest near 7.1680, with the pair last tracking just under this level. Onshore spot is also above the 7.1600 handle.

  • Onshore equities are showing a modestly weaker tone in early trade, which goes against the firmer HK equity lead.
  • USD/JPY also continues to drift higher, last around 142.70, which is also likely weighing on CNH sentiment at the margins.
  • Coming up in a few minutes is the Caixin manufacturing PMI print.

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