Chinese Yuan: Trade détente and PBoC fix support Yuan – Commerzbank

Commerzbank analysts highlight that Beijing’s new trade agreement with Brussels, alongside a US–China tariff framework, modestly improves China’s external backdrop. They note the PBoC’s USD/CNY fixing model points to a slightly stronger Yuan and that both USD-CNY and USD-CNH fell to 6.69 last week, as easing trade tensions reduce headwinds for China’s export sector and current account.