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APAC Currency Corner – Asia USD basket looking bullish

Discussion in 'Technical Analysis' started by FXStreet_Team, Apr 1, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    CNY We hit a new year-to-date low on the China CFETS basket yesterday, down 2.9% year to date and the PBoC seems to be a happy camper with the pressure off the Yuan. Yesterdays’ extreme interest gap lower in CNH funding was a result of quarter end influences, and an unwind of forward hedges used to fund short CNH positions appears to be normalizing today. China Non-Manufacturing PMI was at 53.8 in March (52.7 previous) and China March manufacturing PMI comes at 50.2 versus 49.4 expected. PBoC

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