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USDCNH trades just off its daily lows after...>

CHINA
CHINA: USDCNH trades just off its daily lows after seeing weakness extend below
the 200-dma to bring the 6.76 level back in view. A source highlighted Chinese
names buying USD/CNH sub-CNH6.7600. EURCNH has edged down back towards
yesterday's multi month low as the downtrend shows no sign of ending. 
- Swap rates have given back early upside momentum despite the continued surge
in equities which has seen most mainland indices rise in excess of 2% and the
Chinext extend its 4 day gain to 11%.
- A SCMP report noting that President Xi will attend ongoing trade talks this
Friday has further improved optimism over a trade deal allowing a simultaneous
rise in stocks and a fall in yields as the PBOC is given more room to ease with
a stronger currency. 

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