UOB forecasts the Chinese yuan to trade in a tight range but expects the US dollar to weaken toward 6.7300 in coming weeks.
UOB analysts Quek Ser Leang and Lee Sue Ann project USD/CNH will remain in a narrow intraday range, citing flat momentum indicators. The pair shows limited volatility but retains potential for modest downside movement over the next 1-3 weeks.
The bank maintains a target of 6.7300 for the dollar against the offshore yuan, while resistance levels have been adjusted higher. Recent price action reflects subdued trading activity amid broader market uncertainty.
No immediate market reaction was specified in the analysis.