US Dollar (USD) is likely to trade in a range between 7.1700 and 7.1920 against Chinese Yuan (CNH). In the longer run, USD is expected to trade in a range between 7.1550 and 7.1920, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
The Australian labour market appears to be cooling somewhat, which could give the Reserve Bank of Australia room to cut key interest rates again in August, Commerzbank's FX analyst Volkmar Baur notes.
The People’s Bank of China (PBOC) set the USD/CNY central rate for the trading session ahead on Thursday at 7.1461 as compared to the previous day's fix of 7.1526 and 7.1703 Reuters estimate.