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USDCNH has moved sharply lower amid......>

CHINA YUAN
CHINA YUAN: USDCNH has moved sharply lower amid broad based dollar weakness and
risk on sentiment, which has seen the pair drop back below its 200-dma at
6.7725. EURCNH hit fresh cycle lows yesterday as the bearish trend remains
intact. CNHKRW has also moved back within a whisker of 166 and a close above
here would suggest a potential bull flag breakout. 
- President Trump noted yesterday that he's open to extending a March 1 deadline
to raise tariffs on Chinese products if the two sides are near an agreement,
which has helped improve sentiment regarding a trade deal. 
- This risk on sentiment has finally begun to put some upside pressure on
China's interest rate swaps, yet US-China rate spreads remain near cycle highs.

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