USDCNH: There is still room for further decline – UOB – by pabspiovano China Currencies Crosses Banks
24-hour view: “We expected USD to ‘trade within a range of 7.0260/7.0800’ yesterday. However, USD traded within a narrower range than expected . The underlying tone has firmed somewhat and USD is likely to trade with an upward bias. That said, any advance is not expected to break 7.0850. On the downside, a breach of 7.0400 would indicate that the mild upward bias has eased.”
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