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USDCNH has seen a decent drop over the past...>

CHINA
CHINA: USDCNH has seen a decent drop over the past hour to trade at 6.8710 even
as Chinese bond futures have recovered early losses and Chinese stocks remain at
yesterday's lows. 
- The yuan's outperformance has seen EURCNH edge lower to trade at 7.8130 last,
with bears looking to close the week below the neckline and 200-dma at 7.80 to
accelerate the bearish trend. 
- With no major headlines or data coming out today, the drop in oil appears to
be the main driver of rates and the yuan, reducing inflation expectations and
strengthening real yields to the benefit of the currency. 

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