USD/CNH strengthens above 7.1200 – BBH

USD/CNH edges higher as a softer-than-expected China PMI contrasts with optimism from the US-China trade truce, supporting the yuan, BBH FX analysts report.

China manufacturing PMI slips to 50.6 in October

"USD/CNH is firmer above 7.1200 on USD strength. China manufacturing activity remains soggy. The private-sector RatingDog manufacturing PMI slipped in October to 50.6 (consensus: 50.7) vs. 51.2 in September. Encouragingly, the US and China trade truce improves the outlook for China’s manufacturing sector and supports CNH."