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EURCNH has slipped back below the 8.0....>

CHINA YUAN
CHINA YUAN: EURCNH has slipped back below the 8.0 level once again thanks to
renewed weakness in EURUSD even as USDCNH trades near daily highs.
- Below 8.0 in EURCNH keeps hopes of a bearish reversal alive which would mean
either a rally in the yuan or a drop in the euro. 
- Given the real yield situation continues to favour the dollar versus both
currencies, a bearish move in EURCNH would suggest a resumption of euro
weakness, with the yuan weakening less so. 

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