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USDCNH trades north of the 6.94 level,...>

CHINA YUAN
CHINA YUAN: USDCNH trades north of the 6.94 level, currently at 6.9434, having
taken out Wednesday's high to return the focus back to the 6.98 level. The yuan
is coming under pressure amid a resumption of weakness in Chinese stocks and the
ongoing widening of US-China yield spreads. 
- CPI data came in in line with expectations with CPI rising 2.5% y/y and PPI
rising 3.3% y/y, which failed to impact the pair. 
- Comments made by President Xi to Henry Kissinger that China wants to resolve
the disputes with the US have also failed to provide any support to Chinese
assets. 

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