Analysts expect the Chinese yuan to hold near 6.75 against the dollar but flag potential weakness toward 6.7300 in coming weeks.
UOB analysts Quek Ser Leang and Lee Sue Ann forecast USD/CNH will trade between 6.7430 and 6.7530 in the near term, citing a tight range in recent sessions. The pair has fluctuated narrowly, with no clear directional momentum observed yesterday.
The bank maintains a bias for a drift lower toward 6.7300 over the next one to three weeks unless resistance at 6.7580 is breached. A medium-term recovery would require a move above the 21-week exponential moving average at 6.78430, currently seen as unlikely.
No immediate market reaction was noted, as the outlook remains largely unchanged from prior assessments.