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CHINA YUAN: USD/CNH drops further as the PBoC says it will auction CNY10 billion
worth of central bank bills in Hong Kong on Sep 26.
- Elsewhere, China trimmed its 1-Year LPR to 4.20% from 4.25%, in line with
expectations, while leaving the 5-Year LPR unchanged at 4.85% vs. consensus for
a reduction to 4.80%.
- USD/CNH last seen at CNH7.0898, 130 pips worse off, after touching a reaction
low of CNH7.0871. Nearby technical levels outlined ~15 minutes ago remain
intact, as of yet.

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