美元兑人民币即期汇率重回7.25，压力给到了中间价？

I 2024527 7.25 20111290 Z0017101 7.205 7.20 10CPI 7.25 I 2024527 i 1. ......................................................................................... 1 1.1 .................................................................................... 1 1.2 ................................................................................. 2 1.2.1 ................................................................................................... 2 1.2.2 ................................................................................................... 4 1.2.3 ................................................................................................... 4 2. ................................................................................................ 5 2.1 - ........................................................................ 5 2.2 ............................................................................. 5 2.2.1 ............................................................................................ 5 2.2.2 ............................................................................................ 6 2.2.3 ........................................................................................ 7 2.2.4 ........................................................................................ 8 2.3 ........................................................................................ 9 2.3.1 ......................................................................... 9 2.3.2 .................................................................... 10 3. ........................................................................................ 11 3.1 ........................................................................11 3.2 .......................................................................................... 15 3.3 ................................................................ 16 ................................................................................................. 17 ........................................................................................................ 18 ...........................................................................................19 . ............................................................................................................... 20 ............................................................................................................ 20 7.25 I 2024527 ii 1.1.1 .................................................................................................. 1 1.1.12024520524 . 2 1.1.2 ..................................................................... 2 1.2.17.10 .......................................... 4 2.1.1 ............................................................................................... 5 2.2.1 .......................................................... 5 2.2.2 .............................................................. 5 2.2.3 .......................................................... 6 2.2.4 ................................................................................ 6 2.2.5% .............................................................. 7 2.2.6 ..................................................................... 8 2.2.7NDFUSDCNH ......................................................................... 9 2.2.8USDCNY25Delta% .......................... 9 2.3.1 ............................................... 9 2.3.2 ......................................................................... 9 2.3.3 ............................................. 10 2.3.4 ....................................................................... 10 3.3.12024.5.27-5.31 ................................ 16 1 ................................. 17 2% .................................................................. 18 3 ................................................... 19 4Shibor% ............................................................................ 19 7.25 I 2024527 iii 5SOFR% ............................................................................. 19 6% ................................................................................. 20 7 .................................................................................... 20 7.25 I 2024527 1 1. 1.1 2024520524CFETSBISSDR52416:30 1.1.1 7.1045 7.1102 7.1042 7.1102 0.080% USDCNY 7.2242 7.2447 7.2320 7.2447 0.284% USDCNH 7.2310 7.2583 7.2387 7.2583 0.378% 155.5629 157.0603 156.1032 156.9064 0.864% 1.0868 1.0860 1.0827 1.0851 -0.155% 1.2700 1.2743 1.2705 1.2743 0.342% 104.4974 105.0280 104.6039 104.7483 0.240% CFETS 99.43 —— —— 99.76 0.332% (BIS) 105.06 —— —— 105.37 0.295% (SDR) 94.28 —— —— 94.34 0.064% iFinD 7.205 7.25 I 2024527 2 1.1.12024520524 USDCNHUSDCNY Bloomberg 1.1.2 iFinD 1.2 1.2.1 7.20 101.00102.00103.0010