The renminbi has risen sharply against the US dollar.The yuan rose at 6.42,6.41 and 6.40 at 16.30 at 6.4250 and at 6.399 at 6.3877. Connector manufacturers, Reflector Keyring and solderless breadboard should be noted.
6.42, 6.41,6.40,6.39 and 6.38, a new high since mid-June.Market participants said that the short-term market on the high exchange settlement willingness is strong, the RMB exchange rate against the dollar may still have room to rise.
Market participants also pointed out that the recent overseas risk appetite continues to rebound, the US stock market strong rebound, the dollar index is weak, is expected to continue to maintain a strong trend in the short term, but the unilateral trend of the exchange rate may cause regulatory concerns, the short-term RMB exchange rate against the dollar may have strong resistance.
"Recently, there have been a lot of sales in the US dollar, and the customer market is inclined to foreign exchange settlement. In September, the trade surplus is more, leading to a strong impetus for RMB appreciation, and the RMB exchange rate will maintain a strong trend in the short term.
"Central China, a city commercial bank foreign exchange trading manager said.Recent customs data showed that the trade surplus in September recorded US $67.760 billion, a new year, and imports and exports achieved positive year-on-year growth for five consecutive quarters.Another bank's foreign-exchange trader said the, Recently, the market demand for foreign exchange settlement is strong, Some institutions in the field operate with the trend, The RMB has a certain pressure to appreciate, But the overall upside may face repression, The short-term onshore renminbi is expected to range from 6.39 to 6.43.
He noted, The current dollar index does not have a downward environment, The Fed Tapper approaches or forms support for the dollar index, In addition, U. S. economic policy will also support the trend of the dollar, The US is more likely a technical pullback, With support near 93.2, Short-term focus on the potential impact of key breakouts and subsequent changes to the U. S.
debt ceiling on the exchange rate.Jiasheng Group senior analyst Fiona Cincot believes that the strong demand for foreign exchange settlement has supported the trend of the RMB.The yuan will continue to strengthen as the dollar index has retreated.But the country's economy is facing mounting downward pressure, and the slowdown could be greater than expected.Against this backdrop, the currency could adjust in the coming months.
Post time: Oct-21-2021