USD/CNH: Still room for a move to 7.0500 – UOB – by pabspiovano China Currencies Crosses Banks
could still advance further and test the 7.0500 region in the next weeks, comment FX Strategists at UOB Group Lee Sue Ann and Quek Ser Leang.24-hour view: “We expected ‘the pullback in USD to extend’ yesterday. Instead of pulling back, USD traded between 6.9905 and 7.0254 before closing little changed at 7.0038 . The movement appears to be part of a consolidation and USD is likely to trade within a range of 6.9800/7.0200 for today.
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