On Tuesday, the People’s Bank of China (PBOC) set the USD/CNY central rate for the trading session ahead at 7.1534 as compared to the previous day's fix of 7.1586 and 7.1509 Reuters estimate.
Gold (XAU/USD) is entering the week below $3,300 at the time of writing on Monday as markets brace for heightened volatility ahead of Friday’s US Independence Day holiday.
Slight increase in upward momentum is likely to lead to a higher trading range of 1.1685/1.1765. In the longer rum, further EUR strength still seems likely; the next level to monitor is 1.1780, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.