US Greenback (USD) is more likely to commerce in a spread between 7.1830 and seven.2030 in opposition to Chinese language Yuan (CNH). Within the longer run, 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 remains to be buying and selling inside the vary
24-HOUR VIEW: “USD traded inside a good vary of seven.1855/7.1959, closing largely unchanged at 7.1951 (+0.03%). The value motion offers no contemporary clues, and USD may proceed to commerce in a spread, doubtless between 7.1830 and seven.2030.”
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 spread buying and selling section, in all probability between 7.1620 and seven.2200.’ It’s been greater than per week, and USD remains to be buying and selling inside the vary, and we proceed to carry the identical view for now.”
