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Broader USD weakness drags USD/CNH.......>

CHINA YUAN
CHINA YUAN: Broader USD weakness drags USD/CNH lower, last ~140 pips worse off
at CNH 6.9790, breaking last week's lows.
- Earlier today we saw a slightly stronger than expected CNY mid-point fix from
the PBoC, while the weekend news flow revealed that the PBoC decided to apply
the LPR to existing floating rate loans, which BBG suggests could lower the
costs of CNY152tn worth of loans.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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