UOB analysts expect gradual yuan appreciation against the USD after the pair failed to extend recent gains.
The Chinese yuan advanced against the US dollar, with USD/CNH slipping to 6.7459 after a modest bounce stalled. Downside momentum remains limited, according to market observers.
Intraday, the pair may test last week’s low of 6.7420, though analysts doubt a sustained break below that level. The yuan’s gradual strengthening aligns with recent trends amid subdued USD demand.
No immediate market reaction was reported, but the shift reflects broader expectations for continued yuan resilience in the near term.