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EURCNH continues to struggle to..........>

CHINA YUAN
CHINA YUAN: EURCNH continues to struggle to confirm a break of the 8.0 level.
Euro weakness on Friday against the dollar saw the pair drop back below this
level yet again as the short-term trend turns negative. 
- Given the significance of this level, and the significance of both the euro
and yuan as regional currency benchmarks, success or failure at overcoming 8.0
will likely have implications for European and Emerging Market FX more broadly. 
- Based on the recent trends in rate markets, a further rally in EURCNH is
facing fundamental hurdles. 

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