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The yuan continues to shrug off recent...>

CHINA YUAN
CHINA YUAN: The yuan continues to shrug off recent PBOC easing measures and
expectations of more to come as the rally in risk assets is dominating
sentiment. USDCNH is testing neckline support going back to August 2018 as the
Dec 12 lows at 6.8260 come back into play. Pair last trades marginally lower at
6.8452.
- The strong technical backdrop in the face of PBOC easing suggests any positive
news on trade could trigger a further downside move in USDCNH. US-China vice
ministerial trade talks conclude today. 
- The strong rally in other Asian FX markets such as the SGD and the THB support
further yuan gains in the near term. 

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