UOB analysts expect the yuan to edge higher against the dollar, targeting 6.7500 after a softer tone in recent trading.
The Chinese yuan showed mild upside potential against the dollar, with USD/CNH trading near 6.7652 on Monday, reflecting a softer underlying tone. Analysts anticipate the pair will drift lower intraday, targeting a range of 6.7595 to 6.7690 rather than experiencing sharp movements.
Recent trading saw little change in the pair, but the shift in sentiment suggests a potential test of the 6.7500 level. The yuan’s performance follows broader market trends and expectations for gradual currency adjustments.
No immediate market reaction was specified, but the outlook points to modest yuan strength in the near term.