Stay in step with market opportunities and get insights, actionable trade ideas and dedicated support.
The yuan hits a 14-year low and sends USD/CNH above 7.2000
Another day, another big level gives way for global markets. And that has seen the yuan weaken to 7.2 against the US dollar, a level not seen since 2008.
USD/CNH closed above 7.000 for first time in 26-months
Despite attempts to stabilise the yuan, USD/CNH has reached 7.000 as policies between the Fed and PBOC continue to widen.
Is USD/CNH set for a multi-month rally?
If current (and expected) yield differentials are anything to go by, the yuan looks quite overvalued. Especially in the context of ongoing growth concerns and geopolitical risks.
Why trade with FOREX.com?
Tight spreads from 0.5 pts on FX and 1 pt on indices.
Award-winning platforms with fast and secure execution.
Open an account in minutes
Experience award-winning platforms with fast and secure execution, and enjoy tight spreads from 0.5 pts on FX and 1 pt on indices.