Will-they-won't-they roils CNH.....>

EMERGING MARKETS: Will-they-won't-they roils CNH

-Conflicting reports on whether the US administration is considering a

'preliminary' deal with China to avoid fresh tariffs underpinned volatility

Thursday and initially helped pressure USD/CNH to the lowest levels since

mid-August. Much of the support for CNH was swiftly withdrawn, however, as CNBC

cited a senior administration official as saying that the White House is

"absolutely not" considering an interim China deal. Either way, CNH managed to

outperform the greenback throughout the session.

-Elsewhere, TRY traded very well as markets responded to a larger-than-expected

325bps rate cut from the Turkish central bank, as the accompanying statement

suggested today's policy action may not be repeated in the coming months as

inflation is seen continuing to slow to a more moderate level. USD/TRY edged

back below the 5.6738 50-dma in response.

-Elsewhere, EMFX got a decent boost from the ECB rate cut, with TRY, ZAR and RUB

gaining in particular.

-Brazilian economic activity data takes focus Friday.