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CHINA RATES

China Repo Rates Fall on Wednesday

BOJ

1- To 10-Year Rinban Conducted

CHINA PRESS

China Commodity Prices May Fall in H2: Yicai

KRW

Market Digest Hawkish BoK Minutes

CHINA YUAN
CHINA YUAN: USDCNH is off its highs but still up on the day as the 6.70 level
now acts as support. Upside pressure is building amid renewed fears over
US-China trade talks and increasingly dovish PBOC policy. The Jan 22 high at
6.8188 is the next upside target, above which would reignite upside momentum. 
- After a few weeks of outperformance regional yuan crosses are giving back
gains with CNHJPY threatening to roll over should the 21dma give way just below
current levels. CNHKRW is also at daily lows as the 200dma support level comes
back into play. 
- The ongoing narrowing between the 12 month NDF outright and USDCNH suggests
caution is warranted from a contrarian perspective as depreciation fears have
receded.