Although we are talking small change when it comes to movements at the Yuan fix the PBOC has seen fit to set USD/CNY today at 6.4592 down from yesterdays 6.4684 setting. This should keep the pressure on the downside in USD/AXJ pairs and in turn keep the pressure on Asian central banks to continue to support by buying US Dollars………and as we all know this leads to recycling unwanted US Dollars into something else during early London.
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