USD/CNH: Likely to trade in a range between 7.1100 and 7.1250 – UOB Group

US Dollar (USD) is likely to trade in a range between 7.1100 and 7.1250. In the longer run, downward bias is building, but USD must first close below 7.1100 before a sustained decline can be expected, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note.

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