Analysts at Westpac explained that the broad-based fall in USD should set up for another large fall in the USD/CNY fixing, from 6.4961 on Thursday.
Key Quotes:
“China Feb 70 city property prices are due at 12:30pm Syd/9:30am local. Tier 1 cities have been stronger than tier 2 and 3 cities.
The US dollar index (DXY) fell further during the London morning to a five-month low, steadying somewhat after the strong Philadelphia Fed business survey.”
(Market News Provided by FXstreet)