The USD/CNH, or offshore USD/CNY, edges down to 6.3690 from 6.3670 late Friday, despite Asian FX weakness, likely due to the PBOC's lower fixing at 6.3276, from 6.3308 Friday, a senior trader at a Chinese bank says. "The lower fixing perhaps signals China won't allow a depreciation of the renminbi, which should clear investors' concerns over the currency's outlook." Also, a slight recovery of the EUR has weighed on the pair. He tips the pair to trade in a 6.3660-6.3710 band during the session.
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