US Greenback (USD) is prone to commerce between 7.1850 and seven.2050 in opposition to Chinese language Yuan (CNH). Within the longer run, for now, USD is prone to commerce in a variety between 7.1800 and seven.2300, UOB Group’s FX analysts Quek Ser Leang and Peter Chia word.
USD is probably going range-bound for now
24-HOUR VIEW: “Yesterday, we anticipated USD to ‘consolidate between 7.1920 and seven.2150.’ Nonetheless, USD traded in a decrease vary of seven.1860/7.2063, closing decrease by 0.22% at 7.1919. The value actions present no recent clues. Right this moment, we count on USD to commerce between 7.1800 and seven.2050.”
1-3 WEEKS VIEW: “Our newest narrative was from final Thursday (29 Might, spot at 7.2025), whereby USD ‘is prone to commerce in a variety between 7.1800 and seven.2300 for now.’ Since then, the vary remained intact, and we proceed to carry the identical view.”
