USD CNH (US Dollar / China Offshore Spot)
The U.S. Dollar vs. the offshore Chinese Renminbi. The Renminbi (CNH) is the designation used when the currency is traded offshore. It often referred as the Yuan and uses the letters CNY when traded inside China. China is the world’s second largest economy behind the U.S. but is the world’s largest exporter.
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China continues to keep its interest rates unchanged despite dramatic increases to its consumer prices in September.
Asian currencies continue to feel pressured by the dollar, prompting central bank intervention – though so far it doesn’t seem to be the salve they hoped it would.
The Chinese yuan’s reign seems to be officially over as the currency struggles under the weight of its sputtering economy.
The Chinese yuan drops rather dramatically against the dollar after economic news worsens global recession concerns.
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