USD/CNY set up for another large fall – Westpac

By FXStreet Analysts at Westpac explained that the broad-based fall in USD should set up for another large fall in the USD/CNY fixing, from 6.4961 on Thursday.

Key Quotes:

“China Feb 70 city property prices are due at 12:30pm Syd/9:30am local. Tier 1 cities have been stronger than tier 2 and 3 cities.

The US dollar index (DXY) fell further during the London morning to a five-month low, steadying somewhat after the strong Philadelphia Fed business survey.”
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Source:: FX Street