The Renminbi continues to rise both domestically and overseas, with implied volatility hitting a more than ten-year low.

As the Bloomberg Dollar Index continued to fall for the second consecutive day, the onshore and offshore renminbi continued to rise on Thursday, with implied volatility hitting a new low of over ten years. The one-month implied volatility of the USD/offshore renminbi fell for the seventh consecutive day, reaching 2.21%, the lowest since August 2015. The USD/Hong Kong dollar rose for the fifth consecutive day, reaching 7.7750 Hong Kong dollars.