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CNY Firms After Money Supply/Loans Data; May Support Commodity Currencies

CHINA
  • USD/CNY on a bit of a tear lower following money supply & new loans data
  • Move slightly against the grain with the DXY ticking up slightly
  • Approaching key lateral support at 6.4723
  • Commodity currencies (ZAR, BRL etc) likely to gain some support from any moves lower towards next sup at 6.4587
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com

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