USD/CNH: Scope for a test of 6.8000 – UOB By pabspiovano China Currencies Crosses Banks
could now attempt a visit to the 6.8000 level in the next weeks, commented FX Strategists at UOB Group Lee Sue Ann and Quek Ser Leang.24-hour view: “We highlighted yesterday that ‘further USD strength is likely’ and ‘a break of 6.7400 could lead to an advance to 6.7600’. The anticipated advance exceeded our expectations as USD soared to a high of 6.7760. Conditions are deeply overbought and USD is unlikely to strengthen much further. For today, USD is more likely to trade between 6.7350 and 6.
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