an pair seems to believe in the latest comments from Beijing, even as the reaction to the latest data is muted when cheering hawkish hopes concerning the US Federal Reserve’s next step.
However, hints from the Chinese policymaker suggesting actions to control CNY strength and stabilize the economy are likely to fuel the USD/CNY prices of late. That said, Reuters came out with thespotting China outlet while saying the Chinese authorities are seen implementing more drastic measures after the recent multi-pronged attempts.
On the other hand, the US dollar cheered hawkish signals from the Federal Open Market Committee Meeting Minutes suggesting a faster rate-hike and plans to discuss balance-sheet normalization. Following the Minutes, the US bond yields rally and the Fed interest rate futures point at the 80% chance of a hike in March 2022.
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