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USD/CNH Breaks Sub 7.1600 Ahead Of The CNY Fix

CNH

USD/CNH has pushed lower in recent trade. The pair got close to 7.1550 in recent dealings, a further CNH gain of nearly 0.20%. This is comfortably below Monday session lows (7.1630), and comes ahead of the CNY fixing, due in around 25mins.

  • There doesn't appear to be a direct catalyst for this move lower in the pair other than continued broad based USD weakness.
  • For USD/CNH we are sub the 200-day EMA (7.1616), but the simple 200-day MA is still lower (near 7.1300).
  • Recall yesterday the sharp drop in the USD/CNY fix kicked off a round of fresh USD/CNH selling.

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