The USD/CNH, or offshore USD/CNY, rises as uncertainty over Spain's bailout plan keeps risk-sensitive Asian currencies on the backfoot. The pair is last 6.3065 vs 6.3025 late Friday in Asia; Hong Kong financial markets were closed on Monday and Tuesday. Risk appetite is also hurt by China's weak September PMI and Asia Development Bank's downward revisions to GDP (of several key Asian economies like China and India), says a Hong Kong-based trader at a Taiwanese bank. Trading volumes will likely remain thin due to China's week-long holiday, he says, tipping the pair to stay in a 6.3020-6.3100 range. The Hong Kong Treasury Markets Association set the USD/CNH fixing at 6.3047 vs Friday's 6.3065.
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