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Published: 2023-12-29T05:18:56.000Z

AUD/USD flows: Getting support from strongest Yuan since May

byCephas Kin Long Yung

FX Analyst
-

The Chinese Yuan strengthened to level last seen in May

The Aussie getting proxy support

The PBoC has fixed onshore Yuan to be the lowest since May at 7.0827. Subsequently, Yuan traders took that as a green light to bring both the on/offshore Yuan lower. While the currency is capitalizing more on USD weakness than overall economic strength in China, it does not prevent the Aussie to gain some proxy support.

The AUD/USD is trading 0.14% higher at 0.6838.

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Topics
FX DM
AUD/USD-Commentary
Foreign Exchange
Flows

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