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USD/CNH Offered On E-Mini Bid & Lack Of Liquidity

CHINA YUAN

USD/CNH has gone offered, last -250 or so pips at CNH6.7590, aided by the uptick in e-minis and lack of liquidity in the cross owing to the Chinese & Hong Kong holidays.

  • Elsewhere, although the Trump-Biden debate saw some loose commentary surrounding the Sino-U.S. situation, a lack of fresh specifics will have done yuan bulls no harm.
  • Our earlier yuan bullet noted that bears see the Sep 16 cycle low of CNH6.7424 as their main near-term target, and a break here would confirm the resumption of a downtrend.
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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