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AUSSIE 3-YEAR TECHS

(U1) Holding Onto Gains

ASIA

Coming up in the Asia-Pac session on Friday:

USDCAD TECHS

Returning Lower

US TSYS SUMMARY

Risk-On Ahead July Employment Report

CHINA PRESS
CHINA PRESS: The yuan may lose its strength and trade about 6.6 against the
dollar, Sheng Songcheng, the People's Bank of China's former statistics chief,
said Saturday at a conference in Shanghai. The Chinese currency closed on Friday
at 6.4851, according to MNI data. The yuan had recently been boosted by the
widening gap between China's market rates and the U.S. Federal Reserve's
benchmark interests rate, by the market's betting on the yuan's appreciation and
on the weakening U.S. dollar index, Sheng argued. The Central Economic Working
Conference last month, attended by China's top decision-makers, emphasized
controlling money supply and maintaining a "reasonable and balanced" yuan
exchange rate, which has also impacted the market, Sheng noted. Sharp movements
in either direction won't benefit the Chinese economy, Sheng said. (Shanghai
Securities News)