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EM Currencies on Front Foot Post-Payrolls

  • EM currencies and in particular CNH enjoying the post-NFP dollar weakness, with USD/CNH now narrowing in on the late October lows at 7.1662 which mark first support.
  • Break below here puts rate at lowest since Oct14 and marks a 2% session for USD/CNH.
  • Strength in China FX as well as an uptick in gold prices lending a hand to ZAR in recent trade - 17.9852 support comes ahead of 17.8281 50-dma. SA yield curve shifting lower Friday, with 10-20y yields off ~12bps
MNI London Bureau | +44 203-865-3809 |
MNI London Bureau | +44 203-865-3809 |

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