The USD/CNH, or offshore USD/CNY, turns lower after the European Union leaders' agreement on a EUR120 billion growth pact. The pair is last at 6.3595, off an intraday high of 6.3645 and vs 6.3610 late Thursday in Asia. Risk appetite improves after the positive news from Europe, while tight liquidity in the CNH market due to banks' half-year demand for CNH for window dressing purposes also weighs the pair, says a senior trader at a local bank. He tips the pair in a 6.3560-6.3630 range in the near term. Hong Kong Treasury Markets Association's USD/CNH fixing was at 6.3608 vs 6.3630 Thursday. One-year USD/CNY NDFs are at 6.4155/6.4205, vs 6.4100/6.4140 late Thursday. Onshore, the USD/CNY slides to 6.3536, from 6.3575 late Thursday. The PBOC lifts the central parity to 6.3249 from 6.3190 Thursday.
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