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USD/CNH continues to grind higher..........>

CHINA FX
CHINA FX: USD/CNH continues to grind higher despite the modest weakness in the
greenback today: overnight highs sit at 6.8491 and a break above will expose a
move toward 6.8546 before any attempt on the YTD highs, which remain well over
1.5% away now. Markets remain primed on any progress in US-China trade talks
which are due to resume as soon as the end of today in order to avoid a
potential further levy of as much as $16bln of goods due tomorrow. While no
breakthrough is expected, any marked progress could see further support for
equities and could allow the CNH to recover more poise.

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