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USD/CNH last trades at CNH6.7165, ~40....>

CHINA YUAN
CHINA YUAN: USD/CNH last trades at CNH6.7165, ~40 pips worse off, after
finishing ~70 pips higher yesterday.
- Worth mentioning today the PBOC set the dollar-yuan central parity rate at
CNH6.7062 vs. CNH6.7088 on Monday. Also today, the PBOC injected CNY50 billion
through open market operations.
- With the rate still hovering above its 21-DMA at CNH6.7130, bears look for a
clean break below, which would allow them to set their sights on the
psychological CNH6.7000 level, where the rate bottomed yesterday and on Friday.
Meanwhile, bulls look to yesterday's peak at CNH6.7240, which also capped
yesterday's gains.

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