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

<p>USD/CNH is lower after the two items out of China over thew weekend. </p><p>This:</p><ul><li><a href="https://www.forexlive.com/news/weekend-china-halves-stamp-tax-for-securities-trading-20230827/" target="_blank" rel="follow" data-article-link="true">Weekend – China halves stamp tax for securities trading</a></li></ul><p>seems to be outweighing this:</p><ul><li><a href="https://www.forexlive.com/news/weekend-data-chinas-industrial-profits-fell-67-mm-in-july-yy-down-7-months-in-a-row-20230827/" target="_blank" rel="follow" data-article-link="true">Weekend data: China's industrial profits fell 6.7% m/m in July, y/y down 7 months in a row</a></li></ul>

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