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USD/ CNH, CNY Set 1Yr+ Lows on Powell Hawkish Remarks
Recommend 1 Positive 3 Negative 10 |
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The Federal Reserve was foreseen to cut interest rates by only another half of a percentage point next year. In addition, Fed Chairman Jerome Powell made it clear that he was cautious about cutting interest rates next year. The USD Index ascended to a new height in more than two years, and was now at 108.039. RMB was suppressed. USD/ CNH briefly busted below 7.32, and USD/ CNY also fell below 7.29, both hitting new lows since November 2023. USD/ CNH, which bottomed at 7.3254, last gained 149 bps to 7.3097. USD/ CNY, which bottomed at 7.2996 and approached the 7.3-mark, last dived 140 bps to 7.2988. AAStocks Financial News |
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