Overnight offshore Yuan HIBOR sees the biggest daily YTD rise

Dhwani Mehta FXStreet

The overnight offshore Yuan (CNH) Hong Kong Interbank Offered Rate (HIBOR) rose 1.2 percentage points to 3.04%, recording the biggest daily rise year-to-date (YTD), as cited by Reuters.

The HIBOR surge seems to indicate resurfacing fears among the overseas investors that Beijing could announce a deeper devaluation in the Yuan, as the US-China trade tensions return to the markets.

Trade woes re-emerged after Bloomberg reported on Friday that Trump administration officials are considering putting limits on the US investors' portfolio flows into China and delisting Chinese companies from the US stock exchanges.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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