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The Yuan extends losses

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  • The Yuan continues to extends losses, and still trading at its worst levels since the 10th March against the Greenback.
  • Despite the Chinese data beats last week, some investors are still looking for Chinese rates to stay low into the foreseeable future to allow for the Economic recovery to continue, this has also kept Yield lower overnight.
  • Next resistance in USDCNH is at 6.9563.

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