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- USD/CNH keeps the 6.3400-6.3805 range intact so far – UOB
USD/CNH keeps the 6.3400-6.3805 range intact so far – UOB
UOB Group’s FX Strategists expect USD/CNH to remain side-lined in the next weks.
Key Quotes
24-hour view: “Our expectations for USD to ‘edge higher’ last Friday did not materialize as it traded sideways between 6.3525 and 6.3695 before closing little changed at 6.3668 (+0.05%). Momentum indicators are mostly neutral and further sideway-trading would not be surprising. Expected range for today, 6.3550/6.3730.”
Next 1-3 weeks: “There is no change in our view from last Monday (07 Feb, spot at 6.3600). We continue to view the current movement as part of a consolidation phase and expect USD to trade between 6.3400 and 6.3805 for now.”
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