According to UOB, it is expected that USDCNH will continue to trade within a narrow range in the near future at a rate of 7.29846.

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USDCNH Chart by TradingView

USD/CNH is likely to extend the consolidation within the 7.2500-7.3300 range for the time being, comment Economist Lee Sue Ann and Markets Strategist Quek Ser Leang at UOB Group.

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