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USD/CNH Shrugs Off PMI Miss, Back Sub 7.1300

CNH

USD/CNH sits comfortably off post PMI miss highs (7.1455). The pair last near 7.1275 around 0.20% stronger in CNH terms. Onshore spot opened higher (7.1380), but quickly fell back below 7.1300, which has likely aided CNH.

  • Onshore equities are a touch higher in the first part of trade, last around +0.20% for the CSI 300. Hong Kong equities are down, but away from earlier lows.
  • CNH gains are slightly outperforming broader USD weakness against the majors, with the BBDXY off ~0.10% at this stage.

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