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USD/CNH Higher

CNH

USD/CNH is tracking higher, now back above 6.7300, following headlines that Shanghai has found 3 covid cases outside of quarantine.

  • The move so far has been modest, with USD/CNH only up 50 or so pips. Recall yesterday that sentiment received a boost on headlines around Shangahi re-opening plans.
  • It remains to be seen if this latest news presents a set back to such plans.
  • Other risk assets are reacting, but again moves are fairly modest. A$ is back sub 0.7050, while USD/JPY is dipping as well.
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USD/CNH is tracking higher, now back above 6.7300, following headlines that Shanghai has found 3 covid cases outside of quarantine.

  • The move so far has been modest, with USD/CNH only up 50 or so pips. Recall yesterday that sentiment received a boost on headlines around Shangahi re-opening plans.
  • It remains to be seen if this latest news presents a set back to such plans.
  • Other risk assets are reacting, but again moves are fairly modest. A$ is back sub 0.7050, while USD/JPY is dipping as well.