Every aspect of capital markets is affected if USDCNH moves (CNH depreciation). From EURODOLLARS to Inflationary pressures world wide, LIBOR, US rates and RISK assets.
This could be the most important chart in CAPITAL MARKETS.
I am LONG USD here, small, the carry is BAD, but the UPSIDE is TREMENDOUS. I will recycle more of the USD long positions we hold (AUD, EUR, JPY, CHF) into long USDCNH as the trade develops more.