ResearchGlobal2026-10-04
Euro Settlement Drops the Dollar Leg, CIPS Euro Direct Clearing Reprices Transshipment CIF
With EUR/CNY at 7.5406 and EUR/USD at 1.1253, the euro double-cross yields a clean local-currency CIF; settling through CIPS euro direct clearing skips one dollar conversion, cutting a transshipment desk's FX exposure from two legs to one.