The USDCNH pair, currently at a rate of 7.28064, has observed a rise in its downward momentum, according to United Overseas Bank (UOB).

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USDCNH Chart by TradingView

There seems to be increasing probability of a breakdown of 7.2600 in USD/CNH in the short-term horizon, comment Economist Lee Sue Ann and Markets Strategist Quek Ser Leang at UOB Group.

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