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USDCNH trades at its daily high of.......>

CHINA YUAN
CHINA YUAN: USDCNH trades at its daily high of 6.9118 as the range in place over
the  past 6 weeks gives way to the upside. The Aug 15 high of 6.9586 is now
firmly in sight and with the dollar surging against the majors in recent days
the PBOC is likely to set its midpoint weaker when markets resume trading next
week.
- The risk facing the PBOC is that should they adjust the yuan weaker in line
with market forces, with the pair approaching the 7.0 level, it could trigger
some resistance from US policymakers, further complicating trade negotiations.

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