USD/CNH slips to lowest since Sept. 21

 

  • USD/CNH drops to a 10-day low of 6.7580.
  • Dollar draws offers as stocks rise on reports of progress in US stimulus talks. 

Dollar selling is Thursday gathering pace and push Asian trading hours the USD / CNH lowest in the district 6.75, a level last seen on September 21

The shelter of the US dollar faced selling pressure, Asian stocks cheer signs of progress in the negotiations fiscal stimulus in the United States.

According BloombergQuint, Treasury Secretary Steven Mnuchin said he and Nancy Pelosi made a lot of progress in many areas, and the Speaker of the House said the talks with the Secretary of the Treasury would continue.

That said, the two sides remain far apart in their talks, warned the Senate as majority leader Mitch McConnell. In addition, the risk of delays in the US election results prominently.

As such, markets remain vulnerable to risk aversion and more sharp reversal in the US dollar.

At press time, USD / CNH is trading at 6.7580, down 0.36% on the day. The pair dropped by nearly 1% in September, confirming a monthly decline fourth straight line. The yuan offshore peaked 16 months to 6.7423 per US dollar on September 16.

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