On Wednesday, the spot price of RMB against the US dollar rose with the contraction of the middle price, and the effective intraday volatility was still limited. Traders said that the spread of Delta virus pushed the US dollar index to its highest level since early April, but the strength of the RMB still exists. They also pointed out that the demand for safe haven caused by the spread of Delta mutant virus may have overshadowed concerns about inflation, and the US dollar index may continue to strengthen in the short term. In addition, the market is also concerned about the results of the ECB meeting on Thursday, and it is expected that the ECB will make a dovish argument at this meeting. Then this month's Fed meeting, all parties are looking for more clues about the Fed's reduction policy.
Li Liuyang, chief foreign exchange analyst of the financial market department of China Merchants Bank, recently commented that the logic of hedging will continue for some time, but this will not reverse the general direction of this year's recovery cycle. The Fed meeting at the end of July was a key point. If the Fed changes its expected management measures and implies that the economy is weakening, the market's expectation for the Fed to raise interest rates in advance may be lowered, and its risk appetite will be supported. The increase in new housing starts in the United States in June exceeded expectations, but the construction permit fell to an eight-month low, which may reflect the uncertainty caused by the expensive building materials and the shortage of labor and land. In the global foreign exchange market, after the global market was frightened by the surge of COVID-19 cases earlier this week, there were still signs of hedging on Wednesday. The safe-haven dollar rose to its highest point since early April, and Delta variant virus has replaced inflation as the main concern of investors.
Counter deposit: users hold money, ID card, bank card or passbook, queue up to get the number, and then go to the relevant window an