USD/CNH snaps seven-day winning streak as China inflation, PBOC’s Yi favor sellers

From fxstreet.com

USD/CNH drops back below 7.1700 as it snaps a seven-day uptrend during Friday’s Asian session. In doing so, the offshore Chinese yuan (CNH) pair stretches the previous day’s pullback from a two-week high even as the inflation numbers came in mixed. The reason could be linked to the comments from People’s Bank of China (PBOC) Governor Yi Gang, as well as the broad US dollar weakness. That said, China’s headline Consumer Price Index (CPI) matched upbeat market forecasts by rising 2.8% in September while the Producer Price Index (PPI) fell short of meeting expectations during the stated month, down to 0.9% ... (full story)