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USDCNH Rises Above 7.00 For First Time In Over Two Years

  • The Russia news posted below has seen major equity indices trade to the worst levels of the day and additionally China’s yuan extend today’s weakness to 0.5%.
  • This sees USDCNH rise above the 7.00 per dollar level for the first time in more than two years as a fragile economy and strength in the greenback continues to weigh on the currency.
    • The next resistance is at 7.0302, the July 24, 2020 high

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