USD/CNH: There is still room for a drop to 6.6985 – UOB – by pabspiovano China Currencies Crosses Banks
Key Quotes
Next 1-3 weeks: “Last Friday , we highlighted that downward momentum is building quickly and we expect USD to weaken toward the month-to-date low near 6.6985. While there is no change in our view for now, the rebound to a high of 6.7720 has dented the downward momentum. Overall, only a breach of 6.7760 would indicate that the build-up in downward momentum has faded.”
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