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MNI Analysis finds that CNY trades in a....>

CHINA FX
CHINA FX: MNI Analysis finds that CNY trades in a 'new normal':
- While almost all official forecasts call for the CNY to strengthen in coming
quarters, hedging markets see an increasingly low risk of a recovery anytime
soon
- Volatility markets and gradually rising option strikes indicate little
appetite to position for a recovery in CNY
- The CNY's new normal could have serious implications for commodity-tied FX and
the AUD going forward
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