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Momentum on CNY Remains Firm Following PBoC 2021 Financial Stability Report

CHINA
  • Recent comments from China 2021 Financial Stability Report:
    • PBOC TO PUSH FORWARD INTEREST, FX RATES MARKET-ORIENTED REFORMS
    • PBOC REITERATES FLEXIBLE, TARGETED PRUDENT MONETARY POLICY
    • PBOC SAYS THERE'LL BE NO 'SHARP TURN' IN POLICIES
    • PBOC: TO DEEPEN YUAN REFORM, KEEP CURRENCY'S FLEXIBILITY
    • PBOC TO PREVENT SYSTEMIC RISKS FROM CROSS-BORDER FLOWS
    • PBOC: RAPID GROWTH IN HOUSEHOLD DEBT HAS BEEN CONTAINED
  • USDCNY continues to trend lower this morning after breaking below its 100DMA at 6.46 yesterday; next key support to watch on the downside stands at 6.40.

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