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fxJul 13, 2026, 6:41 PM

OCBC: Stronger Yuan Fix Guides Gradual RMB Gains

OCBC strategists note USD/CNH dipped after a stronger USD/CNY fix below 6.80, the first such level since February 2023, signaling policymakers' comfort with gradual RMB appreciation.

USDCNHUSDCNY

OCBC strategists Sim Moh Siong and Christopher Wong highlight that USD/CNH declined following a stronger USD/CNY fix below 6.80, the first time the fix has been set at that level since February 2023.

The strategists interpret this move as an indication that Chinese policymakers are comfortable with further RMB appreciation, while still managing the pace to avoid excessive volatility.

Source: FXStreet Forex News