The USD/CNY falls tracking the lower PBOC fixing. The yuan hits the 1% upper limit trading band for the seventh consecutive day at the opening. The pair is now at 6.2439 after hitting the band at 6.2436, vs 6.2456 late Tuesday. The central parity was set at 6.3067 vs 6.3078 Tuesday. "I hope the central bank can intervene in the market and provide some liquidity, or the USD/CNY pair will be trapped in a narrow range above the band limit," says a Shanghai-based foreign bank trader. Offshore, one-year USD/CNY NDFs are down at 6.3550/6.3605 from 6.3605/6.3655 late Tuesday.
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