USD/CNH: Likely to trade between 6.9660 and 7.0160 – UOB Group
Source Fxstreet
Outlook for USD is neutral now; it is likely to trade between 6.9660 and 7.0160, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
Outlook for USD/CNH remains neutral for now
24-HOUR VIEW: "We expected USD to 'trade in a range between 6.9740 and 6.9900' last Friday. USD subsequently traded between 6.9721 and 6.9841, closing largely unchanged (6.9777, -0.07%). The underlying tone has softened somewhat, but this is likely to lead to USD trading range of 6.9700/6.9860 rather than a continued decline."
1-3 WEEKS VIEW: "Last Thursday (08 Jan, spot at 6.9900), we highlighted 'the outlook for USD is neutral now', and we expected it to 'trade between 6.9660 and 7.0160'. Our view remains unchanged."
Disclaimer: For information purposes only. Past performance is not indicative of future results.
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