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USDCNH is breaking above resistance......>

CHINA YUAN: USDCNH is breaking above resistance following the PBOC fix, trading
just shy of 6.94 but clear of Monday's highs. 
- The next upside target comes in at 6.9586 marking the Aug 15 high, and further
gains towards this level may trigger expectations of PBOC intervention.  
The PBOC faces the unfortunate combination of increased US scrutiny of yuan
weakness and increase fundamental depreciatory yuan pressure. Trade relations
between the two countries could take a turn for the worse should the uptrend in
USDCNH extend.

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