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CHINA FX: USD/CNY is having the best day since 2015, rising over 1% to Cny6.3254
on last check. Markets sold the CNY sharply on the back of disappointing trade
balance figures (surplus was less than half median expectations) as well as news
that the Chinese QDLP program will be re-activated after lying dormant for
almost three years. This allows Chinese money managers to use domestically
raised funds to invest in overseas assets - a signal that China's authorities
are growing more comfortable with capital outflows given the recent strength in