The USDCNH exchange rate at 7.31192 could potentially cause the YTD highs at 7.35 to face downward pressure, according to TDS.

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USDCNH Chart by TradingView

Chinese banks lowered the 1-year Loan Prime Rate (LPR) by 10 bps and left the 5-year LPR unchanged. Economists at TD Securities analyze USD/CNH outlook after smaller than the 15 bps expectation cut.

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