The People’s Bank of China have fixed USD/CNY at 7.0030 vs the estimated 7.0061 and 7.0037 yesterday.
Overnight, USD/CNH bounced from 7.0185 to highs above 7.0300 on the trde war headlines that sent US treasury yields and the dollar lower. The US 2-year yields has been on the bid from 1.60% to 1.63% before falling back to 1.59% due to the US-China trade pessimism. The 10-year yields similarly fell from 1.85% to 1.80%.
A CNBC news reported that Chinese officials were concerned over prior comments with respect to tariffs from Trump, owing to his reluctance to roll back any tariffs that had already been imposed.
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