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USD/CNH Back Above 7.30

CNH

USD/CNH moves back above 7.30, with the broader USD off session lows as escalation in Israeli-Lebanon tensions are eyed.

  • Still, as we noted overnight, USD/CNH has held relatively steady, maintaining a narrow range during Wednesday trade to date, sticking to familiar territory in the process.
  • The latest insight piece from the MNI policy team suggested headwinds around the China economic backdrop, coupled with limited fiscal, monetary policy room, based on their conversations with economists and policy advisors.
  • CNH TN points are relatively unchanged on the day, last showing around -2.
  • China-HK Stock Connect flows were essentially neutral on the day.
  • Familiar technical parameters that we have outlined on numerous occasions in recent weeks remain in play for USD/CNH.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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