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The previously alluded to "risk-off".....>

CHINA YUAN
CHINA YUAN: The previously alluded to "risk-off" factors putting a bid into
USD/CNH this morning (most notably the Sino-U.S. sabre rattling), providing a
brief show above CNH7.1500, last trading a handful of pips shy of that level.
Bulls now look to CNH7.1653, the Mar 19 high.
- This cross is likely to be a yardstick for broader risk in Asia, and the bid
seen since Thursday's close may impact USD/Asia crosses, given its relative
stability in April (which along with Fed measures allowed USD/Asia FX to
stabilise).
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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