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See-Sawing In Narrow Range, 1 & 5-Year LPR On Tap

CNH

USD/CNH is stable in early dealing, the pair is little changed from opening levels and last prints at 7.3010/50.

  • Yesterday USD/CNH finished dealing a touch firmer, however the pair continued to see-saw around the 20-Day EMA (7.2934) in narrow ranges.
  • Technically we remain in an uptrend. Bulls focus on the high from 8 Sep (7.3682). On the downside bears focus on the low from 1 Sep (7.2392), the 200-Day EMA comes in at 7.0875.
  • There is no change expected to either Loan Prime Rate today. The 1-Year is expected to be held at 3.45% and the 5-Year at 4.20%.

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