The USD/CNH, or offshore USD/CNY extends its recent weakness amid expectations of steady yuan appreciation, says a senior trader at a local bank. The offshore pair is at 6.2160 vs 6.2195 late Tuesday in Asia. "The lower onshore fixing by the PBOC is also weighing on the offshore pair, likely to keep the USD/CNH under pressure in the near term," the trader says. He tips the USD/CNH to trade in a 6.2130-6.2190 band in the near term. The PBOC set the onshore USD/CNY central parity at 6.2881 vs Tuesday's 6.2891.
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