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Spot USD/CNH has shed a mere handful of pips, as lacklustre domestic headline flow and in-line PBOC fix failed to move the needle for the redback. The rate last sits -29 pips at CNH6.3626, with bears looking for a dip through Feb 4 low of CNH6.3489 before taking aim at Jan 26 low of CNH6.3238. On the flip side, a break above Jan 31 high of CNH6.3864 would shift topside focus to Jan 6/Nov 26 highs of CNH6.3976/99.

  • The main point of note on China's data docket this week is provided by inflation figures, due for release on Wednesday.

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