The RMB Exchange Rate Has Been Rising Recently

Recently, the foreign exchange market has seen the highest level of RMB in the past eight years. The USD/offshore RMB 1-month risk reversal indicator fell to its lowest level since 2011. This shows that with the spot exchange rate of RMB against the US dollar hitting the highest level since July, RMB call options are favored. As of January 11, the offshore RMB both broke through the 6.75 mark.