USD/CNH risks a deeper pullback – UOB – by pabspiovano China Currencies Banks Crosses
could drop further and probably revisit the 7.0300 region in the near term, comment Economist Lee Sue Ann and Markets Strategist Quek Ser Leang at UOB Group.24-hour view: “USD plunged to a low of 7.0592 in Asian trade last Friday before trading sideways for the rest of the sessions. While downward momentum has waned, there is a chance for USD to drop to 7.0450 before the risk of a rebound increases. The major support at 7.0300 is unlikely to come into view today. Resistance is at 7.
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