United Overseas Bank strategists maintain a bearish view on USD/CNH, targeting 6.7000 amid a softer underlying tone.
UOB analysts Quek Ser Leang and Lee Sue Ann retain a bearish outlook on USD/CNH, citing a weakened underlying tone despite recent subdued price action. They expect modest downside movement intraday, with 6.7150 as a critical resistance level.
The focus remains on the 6.7000 mark, though the pair has shown limited volatility in recent sessions. Prior forecasts had highlighted similar downside risks, aligning with broader USD weakness against Asian currencies.
No immediate market reaction was specified, but the bias suggests potential pressure on the dollar-yuan pair in the near term.