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Yuan on the defensive as the Sino-U.S....>

CHINA YUAN
CHINA YUAN: Yuan on the defensive as the Sino-U.S. trade talks in Shanghai
conclude. No comments made yet. USD/CNH edges towards best levels, last
CNH6.8930. Initial Resistance is located at the 50-DMA (located at CNH6.8979)
followed by psychological resistance (CNH6.9000).
- As a reminder, there were low expectations surrounding the talks, although The
Editor in Chief of China's Global Times tweeted the following overnight:
"Chinese and US negotiators started talks again. Based on what I know the
atmosphere is good. I hope this beginning indicates the future talks will be
smoother than various pessimistic predictions."
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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