人民币：处于关键水平-Asian FX Focus_ RMB_ At a critical level

22 September 2025 Asian FX Focus: RMB Currencies At a critical level The USD-CNY fixing fell quite steadily after the 12 May trade truce but has stalled at 7.10-7.11 since late August. We can think of a few inter-related reasons. These factors together mean that another leg lower in the USD-CNY fixing could require a fresh catalyst, such as: the DXY index sees downward momentum again, concrete progress is made on US-China tariff issues, there are material USD sales by exporters and net capital inflows to ma ...