USD/CNH is still seen trading within the 6.4300/6.4800 range for the time being, suggested FX Strategists at UOB Group.
Key Quotes
24-hour view: “Yesterday, we expected USD to ‘consolidate and trade between 6.4530 and 6.4680’. However, USD edged to a low of 6.4465 before recovering. The decline lacks momentum and USD is unlikely to weaken much further. For today, USD is likely to trade sideways between 6.4400 and 6.4610.”
Next 1-3 weeks: “There is no change in our view from Wednesday (08 Sep, spot at 6.4590). As highlighted, the outlook for USD is mixed and it could trade within a 6.4300/6.4800 range for a period of time.”
