With the addition of USDCNH OTC Options to Saxo Bank’s platform, our clients have even better access to trading in the offshore Renminbi. It’s a move that is particularly timely given China’s recent widening of the USD trading band for the onshore Renminbi (CNY) as part of its plan to make the Yuan more accessible internationally. The resulting volatility in the offshore Renminbi has created some interesting trading opportunities for FX traders.
New: Trade OTC Options on USDCNH
Saxo Bank’s FX offering already includes CNH spot against a range of currencies, and we just recently added CNH against spot gold (XAUCNH). Now with the launch of Options on USDCNH you have even greater flexibility in your FX trading and hedging strategies.