According to SocGen, an increase in the value of USDCNH at 7.20257 will result in increased pressure on the Japanese Yen (JPY), Australian Dollar (AUD), and New Zealand Dollar (NZD).

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USDCNH Chart by TradingView

USD/CNH tracks yield differentials almost as well as USD/JPY. Kit Juckes, Chief Global FX Strategist at Société Générale, analyzes FX markets – that are still watching central banks.

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