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After touching a 2+ year low on Friday.....>

CHINA FX
CHINA FX: After touching a 2+ year low on Friday (CNH 6.3882), USD/CNH
consolidated overnight, but still sits just 0.3% above those levels. Just ahead
of the close (circa 0700GMT), the Shanghai Composite rallied to session highs
and hit the highest level since late 2015 as the PBoC injected a net
CNY20billion via reverse repo operations (7, 14 and 63 day ops). The liquidity
backdrop will become an increasingly important factor ahead of the Chinese lunar
new year holidays due to start on Thursday 15th February.

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