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CNH Plays Catch Up With USD Weakness, USD/CNH Sub 50-day MA

CNH

CNH is playing catch up with further USD weakness. USD/CNH is back under 6.8400, printing at fresh lows for the week. This puts us sub the simple 50-day MA (6.8431). Lows from earlier March in the 6.8315/20 are also now within sight. Northbound stock connect flows remain modestly positive (+0.70bn yuan so far today), as onshore equities track modestly higher.

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