The Chinese yuan has gapped higher after announcement boost outweighs bad data

USD/CNH is lower after the two items out of China over thew weekend.

This:

• Weekend – China halves stamp tax for securities trading

seems to be outweighing this:

• Weekend data: China’s industrial profits fell 6.7% m/m in July, y/y down 7 months in a row

This article was written by Eamonn Sheridan at www.forexlive.com. Source