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Yuan Hits Session Highs


Offshore yuan had been giving back some of Wednesday's gains, USD/CNH gaining around 0.1% after dropping almost 0.7% yesterday. Risk sentiment has been given another boost after a report that China will continue to allow Chinese companies to IPO in the US. There was some concern that amid the latest regulatory crackdown China could take aim at cross border stock listings in an attempt to limit foreign capital flows into Chinese assets. USD/CNH briefly touched lows of 6.4756 before paring the move, last down 33 pips at 6.4827.

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