USD/CNH has registered fresh all time....>

CHINA YUAN: USD/CNH has registered fresh all time highs in the wake of China

being deemed a currency manipulator by the U.S. Tsy. Rate last deals 185 pips

higher at ~CNH7.1170.

- As a reminder, PBoC Gov. Yi spoke on Monday, and noted that China will not use

CNY as a tool to deal with trade disputes nor engage in competitive devaluation.

Yi also noted that he is confident that the yuan will remain a strong currency

in spite of recent fluctuations amid external uncertainties.

- Elsewhere, Monday saw Chinese state media confirm that "the Customs Tariff

Commission of the State Council has not ruled out import tariffs on newly

purchased US agricultural products after August 3, and Chinese related companies

have suspended purchasing US agricultural products." This came after some

confusion in the messaging of various sources pieces from newswires surrounding

the matter on Monday.

- The USD/CNY fix from the PBoC key today, remember that was the trigger for the

move yesterday after the PBoC fixed the rate above the "line in the sand" at

CNY6.90.