Many retail brokers have been adding liquidity for USD/CNH (Dollar vs. Offshore Renminbi). With China increasing the daily trading band to 2% a lot more room was given for some volatility within the relative currency pair, making it more attractive to traders as the pair eventually moves to a free float.
Now for the first time, Australian broker Pepperstone will add access to USD/CNH liquidity to their clients. The pair will just be available via MT4. The dollar has went on run against CNH in recent months with the pair currently trading around 6.25 from 6.05 to begin 2014.
Offshore Renminbi has picked up majorly on the institutional side as well, we reported back in March that the Chinese Yuan Becomes Second Most Traded Pair on Thomson Reuters Matching. Just as a side note, Pepperstone offers USD/CNH 3 months after rival AxiTrader became the first Australian FX broker to introduce USD/CNH trading. We understand liquidity issues take time to implement and now traders looking for CNH trading can choose between either best of breed Australian brokers.
Trade Chinese Currency: Pepperstone is proud to announce the addition of the USDCNH currency … https://t.co/Fb8kP2YTsz
— Pepperstone Forex (@PepperstoneFX) May 16, 2014