Range trade bias stays neutral against US Dollar – UOB

Range trade bias stays neutral against US Dollar – UOB

UOB’s Quek Ser Leang notes that USD/CNH has seen a slight pickup in downward momentum, but still expects the pair to remain range-bound. The bank now looks for a lower intraday band around 6.7820–6.7940, while its 1–3 week view stays neutral, with USD/CNH likely to trade between 6.7750 and 6.8080. USD/CNH seen holding defined ranges […]

US Dollar’s resilience faces Fed minutes and jobless claims

US Dollar’s resilience faces Fed minutes and jobless claims

The upcoming week will bring a fresh test for major currency pairs as investors return from the US Independence Day holiday and continue to digest weaker US labor market data. The release of the last Federal Open Market Committee (FOMC) minutes and Initial Jobless Claims will test the US Dollar’s (USD) resilience. The US Dollar […]