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CNH looks to close the gap -A......>

EMERGING MARKETS
EMERGING MARKETS: CNH looks to close the gap
-A surging Chinese currency looks to close the week's opening gap as the market
starts to get optimistic on the prospect of the US delaying or deferring the
next wave of tariffs on Chinese goods. Markets eyed comments from China's
Ministry of Commerce this morning, who appear to be laying the groundwork for a
September meeting with their US counterparts, expressing a preference for talks
that prioritise the removal of fresh tariffs. CNH's rally pressured USD/CNH to
lows of 7.1454, well within range of Friday's close at 7.1315.
-Another dismal session for LatAm FX Wednesday, as Argentina look to rebuff
their IMF creditors by requesting extensions and debt relief for their fiscal
program. The sentiment is well reflected in MXN today, which sank to fresh
multi-month lows against the USD in Asia-Pacific hours.
-Brazilian GDP and the minutes from the Mexican central bank take focus
Thursday.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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