USD/CNH risks a deeper decline near term – UOB – by pabspiovano China Currencies Crosses Banks
back to the 6.7000 region in the next few weeks, comment UOB Group’s Economist Lee Sue Ann and Markets Strategist Quek Ser Leang.24-hour view: “Our view for USD yesterday was that it ‘could break 6.8000 but it might not be able to maintain a foothold below this level’. We indicated, ‘the next support is at 6.7700’. USD weakened more than we expected as it dropped to a low of 6.7665. While oversold, the decline in USD could test the major support at 6.
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