USD/CNY slumps to 2-month lows on USD selling
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The Chinese Yuan jumped to fresh 2-month highs against its American counterpart on Thursday, knocking-off USD/CNY to 6.8687 lows, before recovering some ground to now trade around 6.8735, still down -0.24% on the day.
Traders cite that the main reason behind the rise in Yuan is on the back of major state-owned banks selling USD in onshore market.
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