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USDCNH trades up slightly on the day after....>

CHINA
CHINA: USDCNH trades up slightly on the day after a reversal from its early lows
at 6.7804. MNI's sources noted USDCNY buying by onshore Chinese corporates while
an FT report noted that Microsoft's Bing search has been blocked in China on a
government order. The yuan has tracked the dollar more broadly with key CNH
crosses trading roughly flat on the day.
- Equity markets recovered early losses with the HSI and CSI300 remaining above
trendline resistance turned support following today's gains. The Chinext is up
over 1%, finally joining in the broader equity rally. 
- Rate markets have shown little action with some slight steepening seen in the
swap curve. 

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