USD/CNH (Offshore yuan) daily chart
The run above 7.00 this month has been a key one for the Chinese offshore yuan and that is building further today after a weak set of PMI data in Asia trading.
The currency has now fallen to its weakest levels since November against the dollar, with USD/CNH racing to a high of 7.13 at the moment. This is but another tailwind for the dollar in its latest upside leg and also adds to downside momentum for the aussie and kiwi – two currencies typically tied to the Chinese economic outlook.