USD/CNH: Further upside seen beyond 7.2380 – UOB – by pabspiovano China Currencies Crosses Banks
could see its gains accelerated on a break above the 7.2380 in the next weeks, note UOB Group’s Markets Strategist Quek Ser Leang and Senior FX Strategist Peter Chia.24-hour view: “Last Friday, we expected USD to ‘trade between 7.1600 and 7.2200’. USD dropped to a low of 7.1600, rebounded strongly to a high of 7.2284 in London trade before trading sideways for the rest of the sessions. The underlying tone has firmed somewhat and the bias for today is on the upside.
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