Exchange rate refers to the value of one currency in relation to another. It is the price at which one currency can be exchanged for another. Exchange rates are determined by a variety of factors, including supply and demand for each currency, economic and political conditions in each country, interest rates, inflation rates, and other factors.
USD/CNH fell sharply -0.40% (NY close at 7.2705) which was surprising (we expected a sideways trade). Despite the relatively large decline, the downward trend has not improved significantly. That said,…
