Chinese yuan tracks regional sentiment, despite fixing

- Saima Farooqi
- 17 May 2012

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Offshore, USD/CNH was fixed only 2pip higher causing the offshore fixing to move into a dollar discount of 1pip against the onshore fixing from an earlier premium of 25pip, according to Royal Bank of Scotland (RBS).

However, the bank sounds a note of caution stating that the broader bounce in Asian currencies is merely profit taking on long dollar positions due to the absence of negative news or comments overnight.

Gains for Asian currencies were pretty muted with Singapore dollar and Taiwanese

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