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USDCNH has risen for 9 consecutive.........>

CHINA FX
CHINA FX: USDCNH has risen for 9 consecutive trading days and is now up on the
year. The pair is rapidly heading to resistance at 6.60 and with the RSI at 82
we would not be surprised to see a pullback. 
- However, with the positive comments from US trade advisor Peter Navarro that
the US is not planning on imposing investment restrictions on China failing to
provide any relief to the yuan, it seems as though diverging monetary policy
outlooks between the US and China are the main driver of yuan weakness. 
- With no signal that China's easing bias is set to change and the US Fed
continuing to drive up short-term rates, the bigger picture is for continued
yuan weakness.

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