USD/CNH pushes to 6.4500 amid higher USD

• USD/CNH edges higher on Monday in the Asian session
• US Dollar Index makes recovery moves above 92.50.
• US-China talks fuel the optimism around CNH.

USD/CNH prints minor gains on the first trading day of the fresh week in the Asian session. The Chinese currency (CNH) pair responds to the latest optimism on US President Biden and his Chinese counterpart XI Jinping and amid  concerns on warning on Typhoon named “Chanthu”

At the time of writing, USD/CNH is trading at $6.4497, up 0.10% for the day.

Improved risk appetite after a positive telephonic conversation between US President Joe Biden and the Chinese Prime Minister on managing competition between their countries lifted the sentiment around the CNH.

Furthermore, the upside movement was augmented by the news that China would launch a Wealth management connect scheme connecting Guangdong with Hong Kong and Macau.

Meanwhile, China’s Ministry of Industry and Information Technology Minister Xiao Yaqing said that are too many auto companies in the country and the industry requires consolidation. The comments act as a negative factor for the Chinese currency.

Another weighing factor for the CNH prices remained the concerns of Typhoon Chanthu, which approaches China, in response, the government shut down schools and suspended flights.

As for now, traders wait for the US Consumer Inflation Expectations to gauge the market sentiment.

USD/CNH additional levels