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CNH: USD/CNY Fixing Dips, But Focus On Tariff Headlines

CNH

The USD/CNY fixing printed at 7.1703, versus a BBG consensus of 7.2934. 

  • The fixing compares to yesterday's 7.1886 outcome. Today's fixing is the lowest level since early Nov.
  • USD/CNH spiked higher to 7.2939, from earlier lows of 7.2524, as headlines from US President Trump crossed. He stated 25% tariffs on Mexico and Canada would likely be imposed on Feb 1.
  • USD/CNH has stabilized somewhat since, last near 7.2800, around 0.25% weaker in CNH terms. 
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The USD/CNY fixing printed at 7.1703, versus a BBG consensus of 7.2934. 

  • The fixing compares to yesterday's 7.1886 outcome. Today's fixing is the lowest level since early Nov.
  • USD/CNH spiked higher to 7.2939, from earlier lows of 7.2524, as headlines from US President Trump crossed. He stated 25% tariffs on Mexico and Canada would likely be imposed on Feb 1.
  • USD/CNH has stabilized somewhat since, last near 7.2800, around 0.25% weaker in CNH terms.