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USD/CNH Rebounds Post Inflation Data Misses

CHINA DATA

USD/CNH has moved away from earlier lows post the inflation prints, which came in below expectations. From lows of 7.2200, we are now back above 7.2300. The early positive impetus to CNH came from the better equity market tone, particularly in HK led by Alibaba. Risk sensitive currencies are also a little weaker, with AUD back under 0.6680. More details to follow.

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