The Chinese Yuan suffers renewed selling after the market came back from holiday and closed. China Shanghai SSE closed down -3.72% at 2716.51after selling pressured increased in the afternoon. USD/CNH (offshore Yuan), is currently up 0.5% at 6.9229. the choppy rise from 6.7776 will very likely extend to retest 6.9586 high.
But for now, we don’t yet see enough momentum to get through 6.9586 to resume the up trend from 6.2358.
