USD/CNH Set For Another Dip Towards 7.2200 Before Stabilization, Says UOB Group
UOB Group forecasts that the USD/CNH exchange rate has the potential to dip lower towards 7.2200 before stabilization occurs. Analysts highlight that any recovery in the US Dollar (USD) needs to stay below 7.2500 against the Chinese Yuan (CNH) to maintain this downward trend. In the medium term, the USD could see even lower levels, potentially dropping to around 7.2000, according to analysts Quek Ser Leang and Peter Chia. Ongoing market dynamics and external factors will play a crucial role in determining the direction of this currency pair, making it vital for investors to monitor these changes closely as they could shape future trading opportunities.