ForexLive Asia-Pacific FX news wrap: USD/CNH hit a 6-month low

<ul><li><a href="https://www.forexlive.com/news/goldman-sachs-forecasts-gbpusd-to-135-in-2024-20231228/">Goldman Sachs forecasts GBP/USD to 1.35 in 2024</a></li><li><a href="https://www.forexlive.com/centralbank/fidelity-on-sticky-inflation-and-only-limited-fed-cuts-market-is-like-a-spoiled-child-20231228/">Fidelity on sticky inflation, and only limited Fed cuts – "market is like a spoiled child"</a></li></ul><p> News and data flow were
almost non-existent. We did get South Korean December inflation
data:
</p><ul><li>0%
m/m (vs. +0.2% expected and -0.5% in November)
</li><li>3.2%
y/y (vs. 3.26% expected and 3.3% in November)
</li></ul><p>It
was a subdued session for major forex rates. </p><p>The
Chinese yuan strengthened. The People’s Bank of China set USD/CNY
at 7.0827, its lowest since the end of May. Offshore yuan, USD/CNH,
hit a 6-month low. The higher yuan lent support to the AUD, which
traded in a small range to highs of circa 0.6845 against the USD, before
dribbling off just a few ticks. NZD/USD ticked higher also and hasn’t
dribbled back as much as AUD has. EUR/USD traded in a similar pattern to
AUD/USD.

USD/JPY
is not a lot changed after its wild ride on Thursday. </p><p>

As
a heads up, China’s National Bureau of Statistics (NBS) is
releasing December official PMIs on Sunday, December 31 (or 123123 if you prefer):</p><ul><li>at 0100 GMT,
2000 US Eastern time on Saturday</li></ul><p>They really know how to throw a
NYE party that lot!</p>

This article was written by Eamonn Sheridan at www.forexlive.com.