FXRenew

USDCNH - Yesterday's rise spooked markets, today calmer story

FX:USDCNH   U.S. Dollar/Chinese Yuan
Yesterday's risk-off mode was likely driven by the rise in USDCNH after China's return to the markets. Remember that the 6.9000-7.00 zone is the line in the sand. Any trade war jitters, or economic difficulty in China could weaken the Yuan even more, driving up the USD and putting more pressure on Emerging Markets.
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