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Yuan Higher As Exports Soar

CNH

Offshore yuan strengthens after trade data, USD/CNH taking another leg lower to 6.4549, down some 98 pips on the session. Exports rose 22.2% in yuan terms against 12.5% expected, in dollar terms exports were 32.3% higher against estimates of 24.1%. Imports also rose but were broadly in line with estimates, the trade balance widened to CNY 276.50bn against expected CNY 129.50bn.

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