Dollar Softens Across the Board; RMB, Yen and Won All Firm, Landed Cost Recut
The dollar fell to 6.662 RMB, 1,332.93 won and 157.74 yen together; local appreciation trims converted landed cost.
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The dollar fell to 6.662 RMB, 1,332.93 won and 157.74 yen together; local appreciation trims converted landed cost.
Brent settled at USD 111.56/bbl and WTI at 102.20, both back at multi-session highs. The yuan's move to 6.6661 against the dollar trimmed the landed duty-paid cost to a roughly 2.5% gain, leaving the import window open. Short-haul light-sweet grades — ESPO, Dubai, Oman — regained their edge over long-haul US Gulf cargoes on combined freight and discount terms.
USD/CNY at 6.6680 strengthens the yuan; USD/JPY at 157.32 weakens the yen; USD/KRW at 1323.71 is flat-soft; price by currency.
FX split three ways today: the RMB firmed to 6.6704 and the won strengthened to 1,323.2, while the euro weakened to 7.469 vs RMB and 1.1202 vs USD. The same dollar-priced barrel costs Asian (CNY/KRW) buyers less than European (EUR) buyers, tilting the bidding for ESPO and Lula cargoes toward Northeast Asia.
Brent settled at USD 112.10/bbl, +3.17%, and WTI at 103.49, +4.04%, but the onshore RMB rate firmed to 6.6704 (roughly +0.6%), shaving most of the dollar gain. Under SNSUC's pricing formula (Brent x FX x 7.33 x grade), the RMB-denominated landed cost of Brent rose only about 2.5%, so the import window stays open.
USD/CNY 6.6704 (-0.039) and USD/KRW 1323.2 (-0.1253) both fell, with CNY and KRW firming against the dollar together. USD/JPY 156.86 (+0.0638) and EUR/CNY 7.469 (-0.2111) moved the other way. The two-bloc split lifts and cuts delivered local-currency costs across Northeast Asia; CIPS direct clearing and NDF euro-leg hedges become mandatory.
USD/CNY fell to 6.6702 and USD/JPY to 156.41; a stronger yuan and yen directly cut transshipment delivered cost in local currency while Korea held flat.
USD/CNY at 6.6745, USD/JPY at 157.01 and USD/KRW at 1323.7 all weakened together, a broad dollar softness against three Asian currencies, yet EUR/USD at 1.1199 and EUR/CNY at 7.471 fell in tandem — the euro is the laggard. Northeast Asia's delivered pricing regains an edge over Europe, where refinery energy cost is pushed up.
USD/CNY fell to 6.6745, EUR/USD rose to 1.1251, and USD/JPY and USD/KRW both eased, leaving a cushion on landed cost as home currencies firm.
Brent settled at $108.32 and WTI at $97.17, both lower. The yuan firmed past 6.68 against the dollar. Under SNSUC's listing formula (Brent x FX x 7.33 x grade), the crude benchmark landed cost has retreated about 162/t CNY from its early-month peak, easing the working-capital load on transfer trades.
USD/CNY 6.6760, USD/KRW 1324.13 and USD/JPY 158.07 all eased; dollar-quoted landed cargoes cost less in local currency and locked orders reprice to the new rates.
Today USD/JPY at 158.22, USD/KRW at 1,327.1 and USD/CNY at 6.679 all firmed against the dollar — yen, won and yuan strengthening in step — while the euro also rose (EUR/USD 1.123, EUR/CNY 7.499). Dollar-denominated commodities get a bid, and North-East Asian refiners are repricing landed and energy costs currency by currency.
EUR/CNY at 7.4851 (-0.0521) and EUR/USD at 1.1211 (-0.0357) both soften, forcing a local-currency recompute on EUR-settled transshipment contracts. CIPS euro direct clearing bypasses the dollar leg and the EUR/USD spread, pulling settlement from T+2 to T+1.
The dollar firmed to 158.36 against the yen but eased to 1,329.4 against the won — Asian currencies no longer move together. On a USD-denominated transfer contract the won leg gets cheaper and the yen leg dearer; CIPS direct clearing plus NDFs hold the exposure down.
EUR/USD at 1.1239 and EUR/CNY at 7.5119 make euro-priced crude dearer; SNSUC re-runs the currency exposure on euro-settled transshipment parcels.
LPG sits in SNSUC's thirteen-category book as a non-hazmat line, imported in dollars. With USD/CNY at 6.687 — yuan about 0.7% firmer on the day — the CNY cost of delivered propane eases, lightening the feedstock pressure on PDH (propane dehydrogenation) units.
USD/CNY slid to 6.6870 (−0.0493) and USD/KRW to 1333.58 (−0.6037) as the yuan and won firmed together against the dollar, while USD/JPY held at 157.99. For books that buy in USD and sell in local currency, local-currency strength directly widens delivered margin; CIPS direct clearing drops the USD leg and NDFs cap the residual exposure.
USD/CNY fell to 6.6870 and USD/KRW to 1333.58 as yuan and won firmed; USD/JPY held at 157.99. Delivered CNY cost eases and quotes must use the bill-of-lading rate.
USD/CNY at 6.6973 leaves the yuan marginally softer, USD/JPY at 158.72 keeps the yen weak, and USD/KRW at 1,338.7 shows the won firming — arrival cost moves in mixed directions.
Euro stronger on both crosses; yen up, won down in northeast Asia, delivered pricing must pin three currencies.
USD/CNY fell to 6.6929 as the yuan firmed while USD/JPY climbed to 158.31 with the yen weaker; SNSUC's daily landed-cost sheet breaks out by currency and the FX gap must be sized before the LC opens.