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Renewed optimism surrounding US-China....>

CHINA YUAN
CHINA YUAN: Renewed optimism surrounding US-China trade talks, firmer Asia
equities & broadly weaker USD attributed to sharp gains in CNH overnight. USDCNH
breached pivotal support on Wednesday around the Cnh6.8300 level as highlighted
in our analysis email (USDCNH Breaks Pivotal Support - Jan 9 1210GMT), extending
the downtrend through Cnh6.80 to near 6-month lows of Cnh6.7441. The 200-dma
provides the next layer of support at Cnh6.7196, ahead of the 38.2% retracement
level of 2018 range at Cnh6.6961. Last Cnh6.7526.   

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