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Consolidates Post PBOC Fix Gains


USD/CNH prints at 7.2530/50, the pair fell ~0.2% on Monday.

  • Post PBOC fix gains were consolidated for the remainder of the session, however USD/CNH remained well within the daily range. The bank set the Yuan reference rate 310pips stronger than the Bloomberg forecast.
  • Bulls look to break Friday's high 7.2857, this opens the high from 4 November 7.3391. Bears first look to target the 20-Day EMA at 7.1958.
  • In the equity space yesterday the CSI300 rose ~1.3%.
  • That data calendar is thin today, on Wednesday Caixin Services PMI is due.

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