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USD/CNH Prints Fresh Highs Post PMI Miss


USD/CNH has hit fresh highs, we got to 7.1110, but we sit slightly lower in last dealings (7.1080/90). Onshore spot is around 7.0975 currently, threatening a test of the 7.1000 handle. China's NBS noted that the country's economic recovery foundation is not solid yet. These comments followed the downside surprise for both the manufacturing and non-manufacturing PMI. Calls for further policy support are likely to persist post these prints.

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