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of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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Free AccessUSD/CNH Reverses Off Overnight Highs
- USD/CNH now wholly reversing the overnight strength to now trade at the day's lowest levels - as equity weakness continues to translate into a softer dollar, despite the pervasive run higher in yields.
- USD/CNH's reversal will run into first support at yesterday's low at 7.2481, but support seen scant until the 200-dma of 7.2316.
- Worth recalling overnight we saw Reuters reports citing sources that state-owned banks had been selling USD/CNY offshore in order to support the currency - the latest move could re-circulate that speculation.
To read the full story
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.