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The Chinese markets are still closed for the New Year holidays and will remain that way until next Wednesday. However, the offshore Chinese Yan versus the dollar is not asleep and the dollar has been pushing higher again this morning. The USD/CNH has risen back above 7.30 today. The move higher came late last night. The USD/CNH closed in the US at 7.2934. The reason for this is all about Trump and trade tariffs. Whilst all the immediate focus on his latest comments concerned Mexico and Canada, it should be noted he also took a swipe at China in all that rhetoric. That has not been lost on the Chinese currency either. It will be interesting to see how this plays out, when the PBOC return to the fray next week. Do not forget the price action in the USD/CNH also has implications for the USD/JPY. The USD/CNH is right now at 7.3014
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