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*CORRECT* USD/CNH is catching a small....>

CHINA YUAN
CHINA YUAN: *CORRECT* USD/CNH is catching a small bid as PBoC Gov Yi told BBG
that "no yuan exchange rate number is more important than others." The rate last
deals at CNH6.9343, ~70 pips better off.
- Yi also noted that the central bank has "plenty of room" in policy instruments
if easing is required. He added that trade war would have a temporary -ve effect
on CNY, but expressed conviction that the yuan will remain stable.
- Bulls look to CNH6.9514, which represents the YtD high touched on May 20.
Meanwhile, a dip through the 21-DMA at CNH6.9219 would open up the Jun 4 low of
CNH6.9152.
- As a reminder, China observes market closure due to a national holiday today.

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