Offshore yuan strengthens against dollar as PBOC resumes counter-cyclical factor in fixing mechanism - ConsultFX

Offshore yuan strengthens against dollar as PBOC resumes counter-cyclical factor in fixing mechanism

USD/CNH continues to move lower ForexLive This is inadvertently also driving further dollar weakness across the board as EUR/USD moves towards the 1.1600 handle now. The PBOC's decision to re-introduce the counter-cyclical factor in its yuan fixing mechanism is definitely a yuan positive and will provide added support for the local currency.