UOB Keeps Neutral Stance on USD/CNH, Sees Consolidation in Tight Range
UOB maintains a neutral view on USD/CNH, expecting intraday consolidation between 6.7760 and 6.7880 and a broader range of 6.7620–6.7980 over the next 1–3 weeks.
USDCNH
United Overseas Bank (UOB) analysts Quek Ser Leang and Lee Sue Ann have reiterated a neutral stance on USD/CNH, noting directionless trading.
They expect the pair to consolidate within a narrow intraday band of 6.7760–6.7880. On a 1–3 week horizon, the broader range is seen holding between 6.7620 and 6.7980.
The neutral outlook reflects a lack of clear directional catalysts for the yuan against the dollar in the near term.
Source: FXStreet Forex News