OCBC’s Sim Moh Siong and Christopher Wong note USD/CNH slipped after weak US payrolls, with the Renminbi (RMB) near its strongest levels in over three years. They see room for further Renminbi (RMB) strength supported by exporter conversions and a softer US Dollar (USD), but stress policymakers prefer a measured appreciation pace. RMB strength but controlled by fixing"Post-NFP gains consolidate. USD/CNH slipped after Friday’s weak US payrolls print, with RMB trading close to its strongest levels in more than three years. "We continue to see room for RMB strength, supported by exporter conversions and a softer USD backdrop, but policymakers are likely to keep the pace measured."