(VIANEWS) - USD/CNH (USDCNH) has been up by 3.18% for the last 21 sessions. At 12:10 EST on Friday, 9 June, USD/CNH (USDCNH) is $7.14.
Usd/cnh grinds above 7.1200 on mixed China inflation clues
It should be noted that the US Dollar Index (DXY) also licks its wounds near 103.35, after posting the biggest daily loss in two months due to downbeat data, which in turn puts a floor under the USD/CNH prices., Further, the fears of China's market intervention also favored the USD/CNH bears as PBoC Vice Governor said, We have confidence, conditions and capacity to maintain stable operations of the FX market. On the same line was Li Yunze, Director of China's National Administration of Financial Regulation, who also made upbeat remarks on the Chinese economy as he said, Economy still recovering, while adding that demand will be boosted.
USD/CNH's yearly highs and lows, it's 0.41% up from its 52-week low and 0.025% down from its 52-week high.
Previous days news about USD/CNH (USDCNH)
- Usd/cnh extends bounce off intraday low near 7.1300 on mixed China trade data. According to FXStreet on Wednesday, 7 June, "Looking ahead, a light calendar and the pre-Fed silence can restrict the USD/CNH moves ahead of Friday's China inflation numbers.", "A one-week-old ascending support line, near 7.1160 at the latest, restricts immediate downside of the USD/CNH pair even as the RSI conditions suggest a pullback from the multi-month high."
- Usd/cnh renews six-month high above 7.1500 as fed vs. pboc divergence is likely to widen. According to FXStreet on Thursday, 8 June, "On the other hand, the latest increase in the market's bets on the Federal Reserve's 25 bps rate hike in July increased, even as the June Federal Open Market Committee(FOMC) is likely to keep the rates unchanged, propel the USD/CNH price even as the US Dollar struggles of late.", "Looking forward, USD/CNH traders may need to keep their eyes on the risk catalysts for clear directions, which in turn highlights headlines surrounding growth and central banks. "
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