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Yuan Reverses Decline After Trade Data

CNH

A bumper print for exports in Chinese trade data has seen a the yuan strengthen and reverse its earlier decline, USD/CNH last at 6.5163 after venturing as high as 6.5134 in the wake of headlines regarding further US sanctions on Chinese officials.

  • Trade data showed exports rose 14.9% in yuan terms against an expectation of a 5.7% rise, while imports fell 0.8% against expectations of a gain of 0.6%. In yuan terms this pushes the trade surplus up to CNY 507.1bn compared to CNY 401.75bn previously

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