USD/CNH is trading in a multi-day 7.2450-7.2215 range – BBH

FXStreet Insights Team FXStreet

USD/CNH is up near the top-end of a multi-day 7.2450-7.2215 range, BBH FX analysts report.

PBOC has limited room to slash interest rates

"As was widely expected, China commercial banks kept the 1- and 5-year Loan Prime Rates (LPR) unchanged at 3.10% and 3.60%, respectively. The PBoC will set its 1-year MLF rate next week and is expected to keep it steady at 2.0%. The PBOC has limited room to slash interest rates because Chinese banks’ net interest margins have fallen to record lows."

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