Group 1 - The offshore RMB exchange rate has significantly increased during the holiday, with a rise of over 600 basis points on May 2 and breaking the 7.20 mark for the first time since November of the previous year on May 5 [2] - The Hong Kong dollar has shown strong performance, reaching the strong end of its trading range for the second consecutive day, with a peak at 7.75 before retracting slightly [2] - The Hong Kong Monetary Authority (HKMA) intervened in the market by buying USD and selling 46.539 billion HKD due to the Hong Kong dollar's strength, attributed to increased stock investment demand and regional currency appreciation [2] Group 2 - Analysts suggest that the recent rise in the offshore RMB is influenced by improved expectations for China's foreign trade environment, driven by news from major US retailers resuming shipments to Chinese suppliers [3] - The market anticipates multiple interest rate cuts by the Federal Reserve within the year, leading to speculative buying of non-USD currencies [3] - The offshore RMB's exchange rate is expected to fluctuate between 7.2 and 7.3, reflecting a growing correlation with the USD index amid recent volatility [3]
“五一”假期亚洲货币集体走强,美元指数走低
Huan Qiu Wang·2025-05-06 01:45