TREE NEWS reports: The offshore yuan (CNH) closed at 6.7088 per dollar in New York on Wednesday, down 8 pips from Tuesday’s close, after trading between 6.7038 and 6.7098. The currency rose 0.13% in September and gained more than 800 pips, or roughly 1.22%, over the third quarter, having touched 6.6912 before the US market open on September 21.
Offshore Yuan Gains Over 1.2% in Q3, Ends September at 6.7088
AI take
The CNH's quarterly gain is notable less for its size than for its persistence: the currency touched its strongest level in the period just before the quarter-end close, suggesting the move was driven by sustained flows rather than a single session's repricing. For cross-border trade and RWA settlement desks, a firmer offshore rate narrows the gap that often complicates onshore-offshore arbitrage. Whether the pair can hold below the September high, or whether the quarter-end bid fades, is the open question.
Generated by AI for reference only.
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