TREE NEWS reports: The offshore yuan (CNH) weakened to 6.6730 per dollar at the New York close on Friday, down 82 pips from Thursday’s close, trading in a 6.6615-6.6743 range. The US non-jobs report triggered a brief V-shaped move but did not significantly alter the day’s overall downward trend. For the week, the CNH fell about 200 pips, or roughly 0.3%, with a sharp drop around 08:30 on November 3.
Offshore yuan falls 82 pips to 6.6730 per dollar in New York close, down 0.3% for the week
The headline number is modest, but the intraday detail is more telling: a V-shaped reaction to the US non-jobs report that failed to shift the broader downward drift suggests the data was absorbed rather than repriced. That points to the weaker offshore yuan reflecting a persistent bid for dollars rather than a single catalyst. The sharp drop around 08:30 on November 3 hints at a fixed-schedule trigger, worth watching as a pattern rather than a one-off. Whether the CNH holds the 6.66-6.67 range into the next session is the open question.
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