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USDCNH has come off its daily highs but.......>

CHINA
CHINA: USDCNH has come off its daily highs but remains under pressure as
interest rate swaps continue to plunge. The pair trades at 6.8416, with bulls
needed a move above Friday's high of 6.8570 to provide fresh impetus to the
rising trend, and bears needing a close below today's low of 6.8149 to gain some
breathing room. 
- 2-year swaps are testing their July 20 lows today as the curve shifts lower.
The 2-year trades at 2.78%, 9bps inside the US, after trading 165bps outside it
at the start of the year.  

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