China FX crumbles as market........>

EMERGING MARKETS: China FX crumbles as market dials down deal expectations

-CNH sat among the worst performers in EMFX as USD/CNH broke above the 7.15 mark

for the first time in a week as markets eyed a report in South China Morning

Post that cited sources in saying that the Chinese delegation have already

planned to cut short their trip by one night and that the team have "toned down"

their expectations. This left markets with little choice but to sell CNH and US

equity futures, which remained lower at the London close.

-Elsewhere, TRY traded more favourably, posting decent gains against the likes

of the ZAR as Trump appeared to backtrack on his outright threats to Turkey. The

US President tweeted that the US relationship with Turkey is "very good".

USD/TRY traded lower, but has been unable (so far) to take out major support at

the 100-dma that broke Monday.

-South African business confidence data, Mexican and Brazilian CPI and Hungarian

central bank minutes take focus Wednesday.