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USDCNH is up marginally but remains......>

CHINA YUAN
CHINA YUAN: USDCNH is up marginally but remains below yesterday's highs at
6.7873. Above here would establish a bullish near term trend and suggest a
triple bottom is in play, targeting a move back to 6.8200.
- Yuan crosses continue to look positive though as EURCNH consolidates its drop
through key neckline support going back to August. 
- US-China rate spreads are not supportive of further yuan gains, with the
1-year spread widening to fresh cycle highs of 32bps.
- New home price data is due at the bottom of the hour. 

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