The USDCNH, currently at a rate of 7.30955, is expected to undergo a period of consolidation according to UOB.

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USDCNH Chart by TradingView

USD/CNH is now expected to navigate within the 7.2800-7.3400 range in the next few weeks, note Markets Strategist Quek Ser Leang and Senior FX Strategist Peter Chia at UOB Group.

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