USD/CNH keeps the 6.3050-6.3450 range unchanged – UOB

According to FX Strategists at UOB Group, USD/CNH is still expected to trade between 6.3050 and 6.3450 in the next weeks.

Key Quotes

24-hour view: “USD traded between 6.3210 and 6.3310 yesterday, narrower than our sideway-trading range of 6.3150/6.3350. The quiet price actions offer no fresh clues and we continue to expect USD to trade sideways, expected to be between 6.3150 and 6.3350.”

Next 1-3 weeks: “There is not much to add to our update from yesterday (07 Mar, spot at 6.3240). As highlighted, the outlook is mixed and USD could trade between 6.3050 and 6.3450 for now.”