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The Chinese Yuan was the driving force...>

CHINA YUAN
CHINA YUAN: The Chinese Yuan was the driving force overnight, as a softer PBOC
fix propelled both the USD/CNH & USD/CNY crosses above their respective Thursday
highs, with USD/CNY crossing above CNY 6.80 for the first time since July 2017.
- The jolt higher in the pairs triggered broader risk off flows.
- The yuan crosses then witnessed sharp 200 pip pullbacks, with subsequent
chatter of the large Chinese state owned banks selling USD/CNY around CNY6.81.
- USD/CNY last CNY6.7950, USD/CNH last CNH6.8200
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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