USD/CNY gapped higher to a hit a 13-month high of 6.8246. PBOC set the Yuan reference rate at the weakest since July 11, 2017. Currently, the USD/CNY pair is trading at 6.8165, having hit a high of 6.8246 earlier today – its highest level since June 27, 2017. The Yuan gapped lower as the People’s Bank of China (PBOC) fixed the midpoint rate at 6.7891, the weakest daily fix since July 11, 2017. The fresh multi-month low in CNY could hurt the Aussie dollar, base metals, and Asian currencies. More importantly, the US President Trump may step up criticism of the Fed’s interest rate hikes and the resulting USD strength. The faster the CNY slides, the more likely a full-blown Sino-US currency war becomes. USD/CNY Technical Levels Resistance: 6.844 (June 27, 2017 high), 6.8730 (April 13 low). Support: 6.8102 (session low), 6.7962 (previous day’s high). FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next US: Expect Q2 advance GDP at 4.3 q/q – Commerzbank FX Street 5 years USD/CNY gapped higher to a hit a 13-month high of 6.8246. PBOC set the Yuan reference rate at the weakest since July 11, 2017. Currently, the USD/CNY pair is trading at 6.8165, having hit a high of 6.8246 earlier today - its highest level since June 27, 2017. The Yuan gapped lower as the People's Bank of China (PBOC) fixed the midpoint rate at 6.7891, the weakest daily fix since July 11, 2017. The fresh multi-month low in CNY could hurt the Aussie dollar, base metals, and Asian currencies. More importantly, the US President Trump may step up criticism of… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
