On November 9, the onshore RMB exchange rate against the US dollar rose above the 6.6 mark, which was the first time since the end of June 2018. Analysts believe that from the current situation, there is a possibility of relaxation in the external environment, the Fed's monetary policy may continue to be loose, the US dollar index will fall further, and there is room for appreciation of the renminbi.
The rise in the exchange rate of RMB against the US dollar is also a microcosm of changes in global market risk appetite. On the 9th, A shares closed up sharply, and US stock futures also rose strongly in the day. However, some institutional sources said that the risk of market volatility is still relatively large.