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USDCNH trades near its daily low at......>

CHINA YUAN
CHINA YUAN: USDCNH trades near its daily low at 6.7930 amid a broad based rally
in Asian FX. The broader uptrend remains in play but a close below yesterday's
low of 6.7905 would make a strong case for a reversal, with the 6.7600 area the
next obstacle for the bears. 
- Implied volatility remains elevated amid increased fears of a devaluation,
with the vol curve still inverted. 

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