USD/CNH faces a probable decline to 6.7000 – UOB – by pabspiovano China Currencies Crosses Banks
to the 6.7000 region in the short term, comment Economist Lee Sue Ann and Markets Strategist Quek Ser Leang at UOB Group.24-hour view: “We highlighted yesterday that USD “could test the major support at 6.7500 before the risk of a rebound increases”. USD subsequently dropped to 6.7590 before rebounding. Downward pressure has eased and the current price movements are likely part of a consolidation phase. In other words, USD is likely to trade sideways today, expected to be within a range of 6.
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