Overnight offshore Yuan HIBOR hits lowest since January 2019

The overnight offshore Yuan (CNH) Hong Kong Interbank Offered Rate (HIBOR) fell to 0.33%, the lowest level since January 29th, 2019, according to Reuters.

The HIBOR fall seems to indicate receding fears among the overseas investors that Beijing is preparing for a far deeper devaluation in the Yuan. This could be in light of the recent optimism on the US-China trade front.