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USDCNH is trading close to its daily.....>

CHINA YUAN
CHINA YUAN: USDCNH is trading close to its daily high at 6.8483, but price
action has been very muted and the pair remains a way off Friday's pre-PBOC
announcement highs.
- EURCNH is looking increasingly bearish following Friday's drop, with the 7.9
area marking a confluence of support levels, including the 21-DMA. A close below
this level would suggest a bearish reversal pattern is in play following the
false break above 8.0 on July 31.
- In contrast, JPYCNH continues to look bullish with the yen receiving a bid on
Friday following the weak US NFP release, keeping the cross close to recent
highs. We maintain or view that the pair is heading higher thanks to the
collapse in yield spreads between the two countries. 
- CNHKRW continues to trade in sideways fashion after giving back early gains
today. Bears need a break below 163.00 to reignite bearish momentum.

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