HALISTER1: USD/CNH Sold off Amid Tightening Short-Term Liquidity: Mizuho

USD/CNH Sold off Amid Tightening Short-Term Liquidity: Mizuho

(Bloomberg) -- With CNH T/N forward points shooting up again, concern over another liquidity squeeze by month-end is kicking in, leading to USD/CNH spot collapsed, Ken Cheung, Asian FX strategist at Mizuho Bank says.
  • After the FOMC meeting market focus is shifting back to the CNH liquidity front
  • USD/CNH tomorrow next forward points up 5.15 to 7.25 points, rising for first time in six days
  • USD/CNH down 0.07% to 6.6774
  • Related story: USD/CNH seeing broad-based selling in early session partly driven by banks turning to spot market to reduce CNH funding needs, says trader
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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Ken Cheung (Mizuho Financial Group Inc)

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