The USD/CNH, or offshore USD/CNY, is lower at 6.2105 from 6.2160 late Thursday in Asia. "Demand for the U.S. dollar remains small. Banks keep selling the dollar and buying the renminbi onshore, triggering the CNY to keep hitting the 1.0% daily trading limit recently," says a senior trader at a local bank. The offshore pair is tracking the decline of its onshore counterpart, though he believes the pair should consolidate at the current level of 6.2100, as the onshore pair cannot fall anymore as it is being restricted by the 1.0% trading limit. The PBOC set the central parity slightly higher at 6.2930 vs Thursday's 6.2911.
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