[ad_1]
USD/CNH is seen nonetheless buying and selling between 6.6600 and 6.7400 in the interim, commented FX Strategists at UOB Group Lee Sue Ann and Quek Ser Leang.
Key Quotes
24-hour view: “Our expectations for USD to ‘head larger’ didn’t fairly materialize because it traded between 6.6930 and 6.7176 earlier than closing little modified at 6.7087 (+0.09%). Momentum indicators are impartial and USD is more likely to commerce sideways. Anticipated vary for immediately, 6.6900/6.7200.”
Subsequent 1-3 weeks: “We’ve anticipated USD to commerce sideways between 6.6600 and 6.7400 since final Monday (20 Jun, spot at 6.7080). Whereas shorter-term downward momentum has improved considerably, there isn’t any change in our view for now.”
[ad_2]
Source link