USD/CNY: Pressure still up – Danske Bank – by MSalordFX USDCNY China Banks
“USD/CNY has taken another leg higher lately on a stronger USD and wider US-China spread.”“Stock markets weaker lately on global recession fears, more US restrictions on Chinese tech, continued property crisis and weaker CNY.”surprised to the upside in August but remain weak. Confidence is low. The property sector is still in a deep crisis although stress among developers has eased somewhat lately.
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