The USDCNH has continued to grind higher as capital outflows from China ramps up.
According to Reuters, foreigners has pulled $4.54B this month via the stock connect scheme.
We are approaching pervious ‘max pain’ levels for the PBoC between 7.36-37 where we saw previous attempts to curb Yuan losses.
For now the move higher has been supportive of the USD, but any attempts from the PBoC could see knee-jerk moves lower for the USD so worth keeping this on the radar.
This article was written by Arno V Venter at www.forexlive.com.
Related Articles
Bitcoin or Ethereum?
Bitcoin or Ethereum: Which Crypto is the Better Investment in 2025?The Crypto...
German election preview: History will be made on Sunday, what to watch for
On Sunday, German voters go to the polls in a high-contested election....
FX Weekly Recap: February 17 – 21, 2025
The majors were all about trade tensions and central banks’ moves this...
Global Market Weekly Recap: February 17 – 21, 2025
Geopolitical developments continued to be a driving force in the markets, initially...
Leave a comment