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GDP Misses, Activity Data Beats

CHINA YUAN

Spot USD/CNH wiped out earlier losses just before BBG ran headlines with China's GDP/activity data. The pair last trades -11 pips at CNH6.6928, with familiar technical levels still in play. China's Q3 GDP undershot expectations, while Sep activity indicators were generally better than forecast.

  • USD/CNY dived to its 18-month low just after the re-open, but has erased losses alongside USD/CNH. The spot last deals at CNY6.6969, oscillating around neutral levels.
  • Earlier, the PBoC set its central USD/CNY mid-point at CNY6.7010, virtually in line with BBG estimate.

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