On Monday, the People’s Bank of China (PBOC) set the USD/CNY central rate for the trading session ahead at 7.1056 compared to Friday's fix of 7.1019 and 7.1213 Reuters estimate.
The EUR/USD pair kicks off the new week on a subdued note and oscillates in a narrow band, around the 1.1725-1.1720 region during the Asian session.
Strong rebound in Euro (EUR) has scope to test 1.1760; the major resistance at 1.1790 is not expected to come under threat. In the longer run, EUR could rise but any advance is likely part of a higher range of 1.1650/1.1790, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.