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USD/CNH To Fresh Multi-Week Highs

CNH

USD/CNH has pushed through Thursday session highs. We got above 6.9270 before paring gains. The pair last sits just above 6.9250. The move up appeared to coincide with the onshore spot open, although USD/CNY is still below 6.9200 at this stage. CNH bears may be encouraged by the lack of push back from the fixing bias, which remains neutral despite the rebound in USD/CNY over recent weeks. A weaker tone in HK equities may also be weighing at the margin.

  • Note Jan highs in USD/CNH came in close to 6.9400.

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