Analysts at TD Securities note that the official fix in USDCNY came it at 7.0039 Thursday, above the psychologically-important 7 threshold for the first time since 2008.
Key Quotes
“Despite the market volatility the risk of such a move presented earlier in the week, investors took the development largely in stride. It does, however, indicate that the path remains higher for USDCNH, in our view.”
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