Weekend comments merely add another layer of tariff threats to China, ING’s FX analysts Chris Turner note.
USD/CNY set to test the upper 2% band of the onshore range
“Overnight, USD/CNH has pushed up to the highest levels since July as the People's Bank of China fixed USD/CNY close to 7.20.”
“It looks like USD/CNY will test the upper 2% band (7.3430 if fixings remain near 7.20) of the onshore range.”
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