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country currency pairs usdcnh

US Dollar vs Chinese Renminbi

US Dollar vs Chinese Renminbi (USDCNH)

The USDCNH currency pair represents the exchange rate between the United States Dollar USD and the Chinese Yuan CNY traded in the offshore market, often referred to as the CNH.

-.-- -.--%
Annual change
-.--%
All time High / Low
6.1096 / 7.37454
Buy

--.--

Sell

--.--

-.-
Daily price range:
Low
7.26769
High
7.27529

USDCNH Contract Specifications

  • Minimum Spreads, points: 0
  • Contract Size per Lot: 100000
  • Swap type: Points
  • Swap Long: 4.54
  • Swap Short: -106.37
  • Margin Group: FX Majors
  • Margin Currency: USD
  • Tick size: 0
  • Trading Platform: MetaTrader 4
  • Minimum Volume: 0.01
  • Maximum Volume: 0
  • Trading Schedule EET: 00:00 - 23:59 Mon - Fri
  • Hedged Margin: 1
  • Days Swap: FX Wednesday, metals-indices-oil friday

History of USDCNH

The history of the USDCNH exchange rate is closely tied to the economic relationship between the United States and China. Prior to 2005, the value of the renminbi (another name for the Chinese yuan) was fixed and controlled by the Chinese government. However, in 2005, China allowed the renminbi to be pegged to a basket of currencies, rather than just the US dollar. This move was seen as a step towards liberalizing China’s currency policy. Since then, the USDCNH exchange rate has fluctuated in response to various economic factors and geopolitical tensions between the two countries. The exchange rate is closely watched by investors, as it impacts trade flows and can have implications for global financial markets.

currency pair usdcnh

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Frequently Asked Questions

USDCNH is a forex currency pair that represents the exchange rate between the United States Dollar (USD) and the Chinese Yuan (CNY), specifically in the offshore market, often referred to as the “CNH” market. In this pair, USD is the base currency, and CNH is the quote currency. It shows how much one U.S. Dollar is worth in Chinese Yuan traded offshore. USDCNH is an important pair in the forex market due to the economic significance of both the United States and China. Movements in this pair are influenced by various economic, political, and trade-related factors affecting these two major economies, making it a subject of interest for traders and investors worldwide.

To trade the USDCNH pair, you need to open an account. Look for a broker that is regulated and provides access to the Chinese yuan. Once your account is set up, you can place trades on the USDCNH pair through the broker’s trading platform. Just like trading any other currency pair, you can use various trading strategies and tools to analyze the market and make informed trading decisions. Keep in mind that trading forex involves risks, so it is important to educate yourself, manage your risk, and make use of stop-loss orders to protect your capital.

The trading hours for USDCNH can be found here

Popular trading strategies for the USDCNH pair include trend following, range trading, breakout trading, and fundamental analysis. Trend-following strategies involve analyzing price charts to identify and follow prevailing trends in the exchange rate. Range trading seeks to profit from price fluctuations within a defined range, buying near support levels and selling near resistance levels. Breakout strategies aim to capitalize on sharp price movements when the exchange rate breaks significant support or resistance levels. Fundamental analysis considers economic indicators, central bank policies, trade relations, and geopolitical events to make informed trading decisions. Traders often combine these approaches based on their trading style and risk tolerance, adapting them to the evolving dynamics of the USDCNH market.

When trading the USDCNH pair, consider several key factors. First and foremost, monitor the monetary policies and interest rates set by the U.S. Federal Reserve and the People’s Bank of China, as changes in these rates can significantly impact the exchange rate. Stay informed about economic indicators and data releases from both countries, such as GDP reports, employment figures, and inflation rates, as they provide insights into the health of their respective economies. Be mindful of geopolitical events and trade relations, as they can influence market sentiment and currency movements. Additionally, take liquidity and spreads into account, especially during different trading sessions. Implement risk management techniques, like setting stop-loss and take-profit orders, and maintain a well-structured trading plan to guide your decisions. Continuously monitor market developments to make informed trading choices.