The Chinese Yuan Index (CNY CFETS) has removed key support and is looking weak, says David Sneddon and James Gilbert at Credit Suisse in London.

Sneddon and Gilbert say that the removal of the 2017 low at 92.43 warns of further currency weakness, with support next seen at 91.23 (see Chart, left pane). Against the USD (right pane on Chart), support at 6.7878 is holding but they think 6.9649 (the late 2016 / early 2017 high) needs to be overcome to re-establish the core bullish trend.

See Chart.