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FOREX: Risk knocked further with soft CNY fix
-A softer-than-expected PBOC USD/CNY fix overnight triggered another bout of
risk selling in the Asia-Pacific session (fixed above Cny6.95 for the first time
since January 2017), helping buoy the JPY throughout the overnight session and
well into the European morning. USD/CNH remained bid in early Europe, touching
Cnh6.9769 and the highest level for close to two years. 
-The turn in risk sentiment dented AUD and NZD crosses, prompting AUD/USD to
fall to fresh YTD lows and trade in very close proximity to the psychological
$0.70 handle. This reinforces the importance of sentiment for antipodean FX, at
present, with focus turning to what's expected to be a negative Wall Street open
once more.
-DXY traders will once again focus on 96.984, the year's high printed in August,
which sits within 0.4% of the current spot price.
-US advance Q3 GDP numbers are the data highlight, followed by Uni. of Michigan
sentiment data at 1500BST. ECB's Draghi and Coeure are due to speak later today
in Brussels and Paris respectively.

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