USD/CNH keeps the mixed outlook unchanged so far - UOB

Market news

1 October 2021

USD/CNH keeps the mixed outlook unchanged so far - UOB

FXStreet reports FX Strategists at UOB Group see USD/CNH to keep navigating within the 6.4300-6.4800 range in the next weeks.

24-hour view: “The sharp drop in USD to 6.4460 came as a surprise (we were expecting sideway-trading). The rapid drop appears to be overdone and USD is unlikely to weaken much further. Overall, USD is more likely to trade within a broad range of 6.4430/6.4680.”

Next 1-3 weeks: “...USD broke 6.4600 yesterday as it dropped to 6.4460. The risk for USD to head higher has dissipated. From here, the outlook is mixed and USD could trade between 6.4300 and 6.4800 for a period of time.”

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