USD/CNH sticks to the consolidation theme – UOB – by pabspiovano China Currencies Crosses Banks
is still forecast to trade within the 7.0600-7.2100 range in the next weeks, comment UOB Group’s Economist Lee Sue Ann and Markets Strategist Quek Ser Leang.24-hour view: “We did not expect the sharp drop in USD to 7.1330 yesterday . While downward momentum is not particularly strong, USD could weaken further. That said, any decline is unlikely to break 7.1100. Resistance is at 7.1480, a breach of 7.1650 would indicate that USD is unlikely to weaken further.
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