The USD/CNH, or offshore USD/CNY, pares earlier losses amid risk aversion sparked by renewed concerns over eurozone debt woes. The pair is at 6.3110, off an intraday low of 6.3095 Wednesday morning, but remains a tad down from 6.3115 late Tuesday in Asia. The pair follows the greenback, which is strengthening after Spain's sovereign bond yields shoot up and as Bundesbank President Jens Weidmann doubts the ECB's bond-purchasing program, says a senior trader at a local bank, who tips the pair to hover between 6.3090-6.3140 in the near term. The Hong Kong Treasury Markets Association set the USD/CNH fixing at 6.3101, vs Tuesday's 6.3119.
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