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It has been a quiet session for USDCNH...>

CHINA YUAN
CHINA YUAN: It has been a quiet session for USDCNH with the pair trading flat on
the day just shy of Monday's highs, with the 21-dma and 200-dma now acting as
support as the focus returns to the upside. 
- The yuan is being undermined by the broad based recovery in the dollar versus
the majors which has allowed the yuan's trade weighted and real effective
exchange rates to remain near cycle highs. 
- The recovery in CNHKRW looks set for another leg higher after the pair
continues to hold above its 200-dma to trace out a potential bull flag. 

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