US Greenback (USD) is more likely to commerce in a variety of seven.1730/7.1860 towards Chinese language Yuan (CNH). Within the longer run, USD is anticipated to commerce in a variety between 7.1550 and seven.1920, UOB Group’s FX analysts Quek Ser Leang and Peter Chia notice.
USD is anticipated to commerce in a variety
24-HOUR VIEW: “We anticipated USD to ‘commerce in a variety of seven.1740/7.1880’ final Friday. USD then traded between 7.1755 and seven.1854, narrower than our anticipated vary. The worth actions nonetheless look like a part of a variety buying and selling part, almost definitely between 7.1730 and seven.1860.”
1-3 WEEKS VIEW: “Our most up-to-date narrative was from final Monday (14 Jul, spot at 7.1730), during which we highlighted that USD ‘is anticipated to commerce in a variety between 7.1550 and seven.1920.’ Our narrative stays unchanged.”
