CNH strengthens further as PBoC eye G20.......>

FOREX: CNH strengthens further as PBoC eye G20 summit

-Chinese FX extended its gains over G10 currencies Tuesday as MNI sources

reported that the People's Bank of China are to ensure the CNY remains strong

until at least the G20 summit. The report helped prop up the CNH further, which

hit the best levels since last Wednesday against the USD at 6.9212 and could

suggest the USD/CNY will remain in focus for the Wednesday session.

-GBP also trades well as jobs number exceeded forecast. Earnings growth was a

particular highlight, with the headline beat also backed up by positive

revisions. GBP/USD improved above $1.27 in response, but still has a way to go

before challenging the week's highs at $1.2747.

-An upbeat open for US equities faltered after a few hours, with US markets

trading in the red at the halfway point despite Trump tweeting it is a "Good day

in the Stock Market." The moves put a lid on USD/JPY, which failed to improve

beyond the day's highs of Y108.80.

-Attention turns to US CPI for May and speeches scheduled from RBA's Kent and

Ellis, ECB's Draghi, Muller and de Guindos.