Analysts expect the yuan to trade in a tight range near 6.74 against the dollar amid subdued momentum and lack of new drivers.
The Chinese yuan has shown little movement against the US dollar, with USD/CNH trading in a narrow range around 6.7441, down 0.01% from last Friday. UOB analysts noted the lack of fresh directional clues, confining the pair between 6.7370 and 6.7470 in the near term.
Recent price action has been quiet, with USD/CNH closing at 6.7433 after fluctuating between 6.7377 and 6.7438. Analysts maintain a mild downward bias, targeting 6.7300, though momentum remains weak. A breach of 6.7530 would signal easing pressure.
The 1-3 week outlook remains unchanged, with the pair expected to edge lower unless resistance at 6.7530 is broken. No immediate market reaction was reported.