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The miss in headline CPI and PPI data.........>

CHINA
CHINA: The miss in headline CPI and PPI data relative to expectations combined
with broader risk off sentiment surrounding US-China trade to send USDCNH back
up through 6.82. However, the rate has since dropped back below this level and
remains below the Dec 4 lows keeping the bearish trend intact. 
- Equity markets have given back the bulk of yesterday's gains to keep the
broader bearish trends intact.
- Despite this rate markets are flat on the day allowing the spread vs the US to
narrow. 

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