Today's Forex Morning Report (April 2, 2026): The midpoint rate of the RMB against the US dollar is 6.8880, an appreciation of 145 basis points compared to the previous day.

• Yesterday, the US dollar index closed down 0.33%, at 99.56.

• Today, the RMB against the US dollar central parity rate is 6.8880, up 145 basis points from the previous.

Part 1: Movement of the US dollar index and major currencies

Yesterday (April 1), the US dollar index closed down 0.33%, at 99.56. Most major non-dollar currencies appreciated, with the Australian dollar closing up 0.41% at 0.6929, the US dollar against the Canadian dollar closing down 0.29% at 1.3874, and the US dollar against the Swiss franc closing down 0.66% at 0.7942.

Yesterday, the euro against the US dollar closed up 0.32% at 1.1590.

Yesterday, the British pound against the US dollar closed up 0.60% at 1.3307.

Yesterday, the US dollar against the Japanese yen closed up 0.04% at 158.7835.

Today (April 2), as of 9:30 Beijing time, the US dollar index is at 99.7874.

Part 2: USD/CNY exchange rate

Yesterday (April 1), the RMB against the US dollar central parity rate appreciated 169 basis points from the previous day, at 6.9025. After signals of a ceasefire from the US and Iran, global financial market sentiment was significantly boosted. US President Trump stated that the US might end military operations against Iran within two to three weeks. Onshore RMB against the US dollar closed at 6.8740 at 16:30, appreciating 341 basis points from the previous trading day. Offshore RMB against the US dollar closed at 6.8789 in New York, up 90 basis points from the previous.

Today (April 2), the RMB against the US dollar central parity rate appreciated 145 basis points from the previous day, at 6.8880. The onshore RMB/USD spot rate opened at 6.8828, then fluctuated within a range. The offshore RMB/USD opening price was 6.8759.

Figure 2: Intraday movement of USD/CNY