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USD/CNH Rebounds On Equity Weakness

CNH

USD/CNH is back above 6.9000, as weaker HK/China related equities continue to weigh. The pair is around 6.9050/60 currently. Earlier lows were just under 6.8950. Highs from yesterday were near 6.9130.

  • Weakness in the equity space continues, with sharp falls in HK, particularly in the tech space more evident today, (HS TECH off by 3%). Chinext is down by 1%. Familiar drivers are at play in terms of US-China tensions and renewed outflow pressures via the Northbound Stock connect (see this link).

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