The USDCNH pair, currently at a rate of 7.14967, is at risk of further depreciation in the short term, according to UOB.

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USDCNH Chart by TradingView

Further decline could drag USD/CNH to the 7.1240 level in the short term, comment Economist Lee Sue Ann and Markets Strategist Quek Ser Leang at UOB Group.

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