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USD/CNH Dip Buyers Emerge

CNH

USD/CNH is rebounding, back towards 7.2100, +400pips on the earlier session lows close to 7.1660. We are now back above the 20-day EMA for the pair, which comes in at 7.1916. The weaker CNH tone has coincided with onshore spot trading mostly firmer bias since the open. We are back to 7.1970, +0.30% on yesterday's closing levels.

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