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USD/CNH Back Sub 7.1200, Eyeing Thursday Lows

CNH

USD/CNH has broken back sub 7.1200 in recent dealings. The pair last under 7.1130. We are comfortably off earlier highs at 7.1321. Thursday intra-session lows come in at 7.1106, so that could be targeted on the downside.

  • Rtrs noted that exporters are selling USDs and converting back into local currency ahead of year end, so that may be aiding sentiment.
  • Cross asset sentiment is steady. The CSI 300 up 0.70%, but off earlier highs. USD/JPY is back sub 142.00, so that be aiding yuan sentiment at the margins as well.

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