US Greenback (USD) is prone to commerce in a variety between 7.1750 and seven.1950 towards the Chinese language Yuan (CNH). USD traded in a quiet method final Friday. USD has doubtless moved right into a 7.1620/7.2200 vary buying and selling section, UOB Group’s FX analysts Quek Ser Leang and Peter Chia word.
USD continues to be buying and selling inside the vary
24-HOUR VIEW: “Yesterday, Monday, we said that ‘the value motion supplies no recent clues, and we proceed to count on vary buying and selling in the present day, most probably between 7.1770 and seven.1970.’ Our view was not improper, though USD traded in a decent vary of seven.1783/7.1904, closing little modified at 7.1841 (-0.05%). We proceed to count on range-trading in the present day, doubtless between 7.1750 and seven.1950.”
1-3 WEEKS VIEW: “Final Monday (09 Jun, spot at 7.1870), we highlighted that the latest ‘delicate downward momentum has eased, and USD has doubtless moved again into a variety buying and selling section, most likely between 7.1620 and seven.2200.’ It’s been greater than every week, and USD continues to be buying and selling inside the vary, and we proceed to carry the identical view for now.”
