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USDCNH is heading towards the upper end of....>

CHINA
CHINA: USDCNH is heading towards the upper end of its trading range with 6.8931
the level to overcome to shift the outlook positive and target the Aug 15 highs.
- Some weakness is seen in Chinese stocks at the open following recent gains in
anticipation of higher A-shares weightings in global indices. This equity
weakness is undermining rate expectations with the 2-year interest rate swaps
down 2ps at 2.97%, now trading 2bps inside the US. 
- The PBOC is not expected to follow the Fed in tightening monetary policy, but
another break higher in USDCNH could trigger such measures.

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