USD/CNY slid to 6.6529, USD/JPY to 157.25 and USD/KRW to 1334.18 in unison, with EUR/USD above 1.1197; transfer landed costs reprice by currency and CIPS direct clearing sheds the USD leg.

USD/CNY printed 6.6683 (-0.0285), with the yuan firming against the dollar. Yet USD/JPY rose to 157.48 and USD/KRW to 1325.0 as the yen and won both weakened against the dollar, while the euro softened to 7.4548 versus the yuan. The one-strong, three-weak split forces a fresh repricing of the currency mismatch in crude transfer books.

Brent settled at $108.50 and WTI at $97.67, both lower. Under the Brent×FX×7.33×grade formula the landed base falls back to ¥5,313/t, pulling all seven transfer grades lower.

FX guidance requires each offshore triangular trade to settle, in principle, at one bank and in one currency; cross-bank or cross-currency deals need prior reporting. SNSUC's crude transfers use seven base grades (ESPO, Dubai, Oman, Urals, Basrah Light, Bonny Light, Lula); settlement shortens from T+2 to T+1, with three-document consistency and SHA-256 title fingerprints positioned upstream.

Brent at $105.70 and WTI at $95.55 leave a $10.14 spread, some $2.50 below the $12.64 of October 13, reopening the arrival-cost gap across the transfer book.