• USD/CNH hit a 40-mth low of 6.7441 late Thurs, cued by USD/JPY

• Broke June low and interim base 6.7500, ended at 6.7480

• Next target for shorts is 6.7355, the 61.8% Fibo of 2022-2025 rally

• Yen surge to 157.80 from 163.40 boosts AXJ currencies substantially

• Aggressive intervention by Japan to strengthen yen

• S. Korea authorities also intervened to boost the KRW
CNH


(Ewen Chew is a Reuters market analyst. The views expressed are his own.)