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Yuan extends losses

  • Despite the Growth and Retail sales beat, as well as Citi and JPM upgrading upwards their Chinese Growth calls, the Yuan keeps on giving back gains, with some desks pointing to slower investment.
  • EURCNH and USDCNH are back towards yesterday's high.
  • For USDCNH, this is situated at 6.8886 (prices are according to BGNE), but market participants will eye the April high at 6.9007, as the upside area of interest.
  • Yesterday's high in EURCNH is at 7.5592.

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