$CNH offshore yuan surging ~400pts
$CNH offshore yuan surging ~400pts. In the past month CNH had surged ~1,400pts — just when consensus was one-sided bearish.
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The US-China summit begins. Many of the details have indeed been discussed and likely agreed upon before the meeting. It important to maintain an open dialogue between G2. Chinese econ still weak, esp. given all the stimuli. Fiscal boost coming in 2024.
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