Published at 04:23 (GMT) 04 Feb

Chart

More international pressure on China CNY, and also possible more PBOC tightening ahead, even as G7 meets this weekend. NYT: To the growing list of grievances between the US and China, add one more: the Obama administration is reviving American pressure on China to stop artificially depressing its currency, a policy that fuels its persistent trade gap with the US. The admin has told Chinese officials that currency policy will be high on its agenda this year for economic talks with China, a senior official said on Wed. White House is also weighing whether to designate China as a country that manipulates its currency, when the Treasury Dept issues its semiannual report on foreign currencies in April. Pres Obama signaled the tougher line on Wednesday. On FX, good to watch the above, CNY. USD/JPY at 90.90-93, EUR at 1.3885-90, could see more EUR, EUR/CNY sales given complaints from Eurozone as well. USD/CNY spot 6.8269, CNY NDFs 6.65.WL