August 14, 2022

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offshore yuan at its strongest since late February

1 min read

There is no stopping the yuan, the PBOC set the reference rate for onshore (CNY) stronger again today.

CNH is gaining further during Friday trade hitting his (ie lows for USD/CNH) not seen since late Feb. USD softness is one factor, the Fed continues to insist it will not be tightening for a good while to come (despite some concerns raised in its stability report out earlier in this season) 

USD/CNH:

There is no stopping the yuan, the PBOC set the reference rate for onshore (CNY) stronger again today.

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