The USD/CNH, or offshore USD/CNY, is higher at 6.3240 vs 6.3200 late Friday on bargain-bargain, says a senior trader at a Australian bank. "I've spotted some short-covering as players oversold the USD/CNH last week after the U.S. stimulus plan. I expect the offshore pair to rise more due to technical position adjustment," the trader says. He tips the USD/CNH to trade in a 6.3230-6.3350 range. The Hong Kong Treasury Markets Association set the USD/CNH fixing at 6.3210 vs Friday's 6.3235.
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