USD/CNH remains side-lined for the time being – UOB – by pabspiovano China Currencies Crosses Banks
24-hour view: “Our view for USD consolidate last Friday was incorrect as it plunged to a low of 6.9040 in NY trade. While USD could weaken further, oversold conditions suggest a sustained drop below 6.8700 is unlikely . On the upside, a breach of 6.9500 would indicate that the current downward pressure has eased.”
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