He mentions that the big shift in the Chinese Yuan is due to two things,  a correction in the USD on the back of the Fed and the Chinese Reopening story. Last year consumption and spending were a drag on the Chinese economy – expect a reopening boom similar to what we experienced in late 2021. This combined with what could be a possibly weaker CPI figure tomorrow could drive the USD/CNY price back closer 6.50 and as we know Australia is a big benefactor to a strong Chinese economy. AUD/USD is trying to consolidate above 0.6900 – 0.70 isn’t far off the cards now.

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