USD/CNH Dips Back Sub 7.1500, Aggregate Equities Flat Despite Property Bounce

USD/CNH has drifted lower in the last part of dealing. We currently sit just above session lows (7.1484), last near 7.1505. Broader USD sentiment has been weaker against the majors, with the BBDXY off by around 0.10% at this stage.

• There has been some focus on troubled property developers following reports late yesterday of who would be included to get funding support (see this BBG link). Shenzhen will also reportedly ease housing curbs for second home purchases (BBG/Xinhua).
• The CSI 300 real estate sub index is up 3.1% at this stage, although the aggregate induces is close to flat. Hong Kong's HSI is also down modestly, which may be tempering CNH optimism marginally.
• The USD/CNY fix from earlier, was set lower again, but there was little follow through USD selling following this outcome.
• Focus will be on the simple 200-day support point on the downside (7.1314), which has coincided with lows in the pair this week.