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China FX Inches Lower as China State Council Raise Possility of RRR Cut

CNH
  • China's state broadcaster CCTV cites the China State Council as saying the Chinese cabinet will use timely reserve requirement ratio cuts in order to support the real economy and to use RRR cuts to lower financing costs.
  • USD/CNH adds around 45 pips in response, rising to 6.47 before fading.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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