Free Trial

USD/CNY Spot back Above 7.1600, Compressing Spread with USD/CNH

CNH

The early impetus for onshore USD/CNY spot has been to track higher. After closing yesterday under 7.1400 we are back to a 7.1600 handle in quick order (last 7.1650). Onshore spot got close to 7.1700 in early trade yesterday, but couldn't sustain gains above 7.1600 as the session progressed.

  • The onshore spot moves have spilled over into USD/CNH, with the pair last tracking closer to 7.1700. The USD/CNH - USD/CNY spread has fallen back close to flat, as onshore spot has played catch up since the open.

To read the full story

Close

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.