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RMB against the dollar spotted slightly higher on Wednesday, the median price hit a seven-week low. Traders said the Fed is expected to raise interest rates in June, the overnight dollar index rebounded, regulators still start today, the middle of the price filter mechanism, the daily exchange rate with the United States refers to narrow fluctuations. Is expected to start in the weekend, "one by one" summit before the exchange rate is still continuing horizontal finishing.

They also pointed out that the recent purchase of foreign exchange is relatively balanced, recently slightly offset purchase, there is a large line to provide liquidity. As the exchange rate narrow order, some institutions involved in the reverse. In addition, the latest April China inflation data in line with market expectations, limited impact on the foreign exchange market.

"The stability of the exchange rate and the way there is also a relationship, the large-scale summit before the market will be relatively stable, it is common practice." A Chinese-funded traders said, "self-rest this period of time to rest, and then see if there is a chance "

There are also Chinese-funded traders said that the recent foreign exchange market has been a big line of defense, the release of dollar liquidity. If the dollar rises again, the yuan may fall slightly, but the probability of falling is basically no.

Deutsche Bank reported that the renminbi had to depreciate 1.8% -6.3% to offset the impact of US tax reform on trade balance between China and the United States, which is less than the proposal of US House Speaker Paul Ryan (9.5-13.7%). While the Netherlands International Group (ING) on May 8 predicted that the next 12 months the yuan against the dollar will appreciate slightly to 6.75 yuan.

Reuters According to the mid-point price quoted by the Foreign Exchange Trading Center (CFETS), the CFETS RMB exchange rate index rose 0.25% to 93.14 on Wednesday, while the SDR basket index edged up to 94.13 and the BIS basket index rose to 94.07.

China's consumer price index (CPI) rose 1.2% YoY in April, slightly higher than the Reuters survey estimate of 1.1%; April industrial producer ex-factory price index (PPI) rose 6.4%, low In the Reuters estimate of 6.9%; analysts said the central bank is expected to maintain tight monetary tight attitude remains unchanged.

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