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Offshore yuan edges up to 6.6676 per dollar in New York trading

The offshore yuan (CNH) closed at 6.6676 per dollar in New York on Monday, up 14 pips from Friday’s New York close, with intraday trading between 6.6698 and 6.6670. On the daily chart, the CNH is steadily approaching levels last seen in 2022, including the June 6 close of 6.6570, the May 4 close of 6.6223, the April 27 close of 6.5868 and the April 18 close of 6.3777.

Original source

AI take

The move itself is marginal — a 14-pip gain — but the framing matters more than the number: the offshore yuan is grinding toward 2022 levels, and the reference points cited sit progressively stronger above spot. That proximity to multi-year highs suggests the market is testing how far the currency can run rather than reacting to a single session. The offshore rate is where positioning is least constrained, so its drift often signals sentiment before onshore fixes confirm it. Whether CNH keeps pressing toward those 2022 closes is the open question worth watching.

Generated by AI for reference only.

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