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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.
USD
The USD is stronger across the board, as USD/CNH breaks above CNH6.7000.
- A fresh round of USD strength has coincided with USD/CNH breaking above CNH6.7000, a previous resistance point.
- USD/CNH is up around 0.60% on the day so far. The moves in the G10 space are not as strong from a beta standpoint, roughly half, with AUD/USD back sub $0.7100, down 0.30%, USD/JPY up 0.40% to Y130.70.
- Seeing stronger beta moves in USD/Asia pairs though. 1 month USD/KRW NDF up close to 0.50% to 1276, USD/TWD 1 month up 0.70% to 29.71.
- USD/THB and USD/MYR also up strongly. USD/THB regaining 1% to THB34.42.
- Higher US yields, weaker equities appear main cross-asset drivers, while the market is testing the China authorities resolve by ignoring another stronger CNY fix.
Fig 1: USD/CNH and USD index
Source: MNI - Market News/Bloomberg
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.
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