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USD/CNY and USD/CNH have moved higher....>

CHINA YUAN
CHINA YUAN: USD/CNY and USD/CNH have moved higher since onshore trade re-opened,
with little in the way of fresh headline flow apparent. Both crosses sit around
250 pips higher on the day.
- The move is out of kilter with the PBoC leaning against CNY weakness via the
mid-point fix, so is likely to be a result of onshore players reacting to the
overnight news flow re: Sino-U.S. tensions and seemingly impending U.S. action
against China in the wake of recent developments.
- A reminder that the Hong Kong Legco is conducting the second reading of the
Security Law today, with passage touted for Thursday.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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