USD/CNH: UOB Group sees a neutral stance for the USD at present

USD/CNH Expected to Remain Within a Defined Range

According to FX analysts Quek Ser Leang and Peter Chia from UOB Group, the US dollar is anticipated to fluctuate between 6.9740（UTC+8） and 6.9900（UTC+8） in the near term. Looking further ahead, their forecast suggests a neutral stance for the USD, with the currency likely to move within the broader band of 6.9660（UTC+8） to 7.0160（UTC+8）。

Short-Term Analysis

In their latest assessment, the analysts noted a modest increase in upward momentum, which allowed the USD to briefly reach 6.9956（UTC+8）. However, this was followed by a notable decline to 6.9788（UTC+8）, indicating that the upward momentum has diminished. As a result, they expect the USD to remain range-bound today, most likely trading between 6.9740（UTC+8） and 6.9900（UTC+8）。

Medium-Term Perspective

For the coming one to three weeks, the analysts maintain a neutral outlook for the USD. They continue to anticipate that the currency will move within the 6.9960（UTC+8） to 7.0160（UTC+8） range, with no significant change in their view since the previous update.