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USD/CNH is probing below CNH6.7000 in....>

CHINA YUAN
CHINA YUAN: USD/CNH is probing below CNH6.7000 in the wake of a RTRS sources
piece which suggested that the U.S. & China are drafting 6 MOUs on key
structural issues including IP, services, tech transfer, agriculture, currency &
non-tariff barriers in their trade talks. The report also suggested that
negotiators are looking at a 10-item list of shorter-term measures to address
the bilateral trade imbalance.
- The rate has registered a low of CNH 6.6960 thus far, after it managed to
break below CNH6.7000 for the first time since July of last year.
- Consolidation below the figure would open up the July 17 low at CNH6.6862,
with a cluster of July intraday lows located between there and channel support
at CNH6.6689.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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