USD/CNH bulls aim for 7.000 threshold on downbeat China trade data, Fedspeak eyed – by anilpanchal7 USDCNY ForeignTrade RiskAppetite PBOC Fed
esday. Also favoring the upside momentum are the risk-aversion and hawkish Fed bets that underpin the US dollar’s strength.
Despite the recent easing in the covid-led lockdowns, China continues to suffer in picking up the economic transition, which in turn pushed the People’s Bank of China to recently cut the Reserve Ratio Requirements . “Traders and analysts said the central bank's persistent firmer-than-expected midpoint fixings could be an attempt to prevent the local currency from quickly breaching the key threshold,” Reuters also said in this regard.
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