Chinese Yuan: Range consolidation after recent retreat against US Dollar – UOB

The post Singapore Dollar: Range-bound trade outlook against US Dollar – UOB appeared on BitcoinEthereumNews.com. UOB’s Quek Ser Leang notes USD/SGD remains range-bound, with intraday action expected between 1.2905 and 1.2940 as recent price moves provided no fresh directional clues. Over the next one to three weeks, the bank sees mild downward pressure as having eased, projecting a broader 1.2890–1.2990 range. On a one to three month horizon, a break above 1.3000 could target 1.3095. Dollar seen consolidating in ranges “24-HOUR VIEW: We noted “a slight increase in upward momentum,” but we pointed out that “it is insufficient to indicate a continued rise in USD.” We indicated that USD “is more likely to trade in a higher range of 1.2920/1.2960.” However, USD traded in a quiet manner between 1.2914 and 1.2938. The price action provides no fresh clues, and USD is likely to trade between 1.2905 and 1.2940 today.” “1-3 WEEKS VIEW: Our update from yesterday (09 Jul, spot at 1.2940) remains

The post AUD/USD climbs as Chinese Yuan strength supports the Aussie appeared on BitcoinEthereumNews.com. AUD/USD advances toward the 0.6960 area on Friday, supported by a softer US Dollar (USD) and renewed strength in the Chinese Yuan (CNY). The pair continues to recover on the four-hour chart, although escalating tensions between the United States (US) and Iran are limiting broader risk appetite. US President Donald Trump said on Truth Social that Iran had requested further negotiations and that Washington had agreed to continue talks. However, Trump warned that the ceasefire was “over,” raising concerns that hostilities could intensify despite diplomatic channels remaining open. Meanwhile, the Chinese Yuan strengthened to a one-week high against the US Dollar, offering additional support to the Australian Dollar given Australia’s close trade ties with China. The move followed a stronger fixing from the People’s Bank of China (PBOC), which set the USD/CNY midpoint at 6.7989, below th

The post British Pound: Upside risk toward resistance against US Dollar – UOB appeared on BitcoinEthereumNews.com. According to UOB’s Quek Ser Leang, GBP/USD’s sharp rebound has left scope to test major resistance at 1.3445, though a clear break is seen as unlikely in the near term. Short-term support lies at 1.3390 and 1.3360. Over one to three weeks, strengthened momentum could open 1.3480 if 1.3445 gives way, while broader ranges dominate over months. Pound testing key resistance band “24-HOUR VIEW: GBP fell to 1.3315 on Wednesday and then rebounded strongly. When GBP was at 1.3390 in the early Asian session yesterday, we highlighted that “the sharp rebound appears to be overdone, but there is a chance for GBP to test 1.3420 before the risk of a pullback increases.” We added, “the major resistance at 1.3445 is unlikely to come into view.” GBP then rose to 1.3430, pulled back to 1.3381 before moving back up to close at 1.3409 (+0.14%). While there has been no clear increase in upward

The post Euro: Range trade bias intact against US Dollar – UOB appeared on BitcoinEthereumNews.com. UOB’s Quek Ser Leang highlights a modest uptick in EUR/USD momentum, with scope to retest 1.1450 but limited prospects for a sustained break higher. Intraday support is seen at 1.1420 and 1.1405. For the coming one to three weeks, the pair is viewed in a 1.1360–1.1450 range, while a break of 1.1390/1.1410 could expose 1.1210 longer term. Euro capped near recent highs “24-HOUR VIEW: EUR declined to 1.1390 two days ago before recovering to close largely unchanged at 1.1414 (+0.03%). Yesterday, we noted that “momentum indicators are turning flat,” and we held the view that EUR “is likely to range-trade between 1.1395 and 1.1440.” EUR subsequently traded within a higher range of 1.1412/1.1449, closing at 1.1428 (+0.12%). The slight increase in upward momentum suggests EUR may retest 1.1450. A continued rise above this level is unlikely. Support is at 1.1420; a breach of 1.1405 would mean tha

The post Chinese Yuan: Fixing guidance fades, path less anchored – OCBC appeared on BitcoinEthereumNews.com. OCBC’s Christopher Wong observes that Renminbi (RMB) appreciation guidance is waning, with CNH-CNY fixing gaps narrowing and daily adjustments moderating. Policymakers appear to be shifting toward RMB stability rather than further appreciation. As a result, USD/CNH may become more driven by the broader Dollar, yield differentials and China growth sentiment, leaving downside less anchored. Stability focus shifts USD/CNH drivers “The RMB appreciation impulse appears to show tentative signs of losing some official reinforcement. The CNH-CNY fixing gap has narrowed, while the pace of daily fixing adjustment has moderated.” “Recent fixes have also been less RMB-supportive versus market expectations (Bloomberg proxy), suggesting that the policymakers may be shifting back toward RMB stability management rather than guiding for further appreciation.” “If fixing guidance continues to fad

The post Singapore Dollar: Range bias holds above 1.2890 against US Dollar – UOB appeared on BitcoinEthereumNews.com. United Overseas Bank’s (UOB) Quek Ser Leang notes that USD/SGD’s mild downward pressure has eased, with the pair expected to stay range-bound. Intraday, the Dollar is seen trading between 1.2920 and 1.2960, while over the next 1–3 weeks UOB projects a broader 1.2890–1.2990 band. On a 1–3 month horizon, a break above 1.3000 could open a move toward 1.3095. Dollar-Singapore Dollar seen range-bound “24-HOUR VIEW: When USD was at 1.2930 in the early Asian session yesterday, we were of the view that it “is likely to edge higher.” However, we pointed out that “it is unlikely to break above 1.2955.” Our view of a higher USD was not wrong, even though USD rose to a high of 1.2956 before easing to close at 1.2938 (+0.07%). The slight increase in upward momentum is insufficient to indicate a continued rise in USD. Today, USD is more likely to trade in a higher range of 1.2920/1.2

The post Chinese Yuan: Forecast band tightened as stability holds against US Dollar – ING appeared on BitcoinEthereumNews.com. ING’s Chief Economist Lynn Song notes that the CNY has been one of the strongest performers in 2026, even against a firm Dollar backdrop. Song tightens its USD/CNY forecast band to 6.67–6.92 for the rest of the year, citing PBoC-driven currency stability, strong Chinese exports, a robust current account surplus and expectations of a narrowing US-China yield spread. CNY resilience and revised band “The CNY has been one of the top performers so far in 2026. With upside risks increasingly reflected in current valuations, we are narrowing and modestly lowering our forecast range to 6.67–6.92 for the remainder of the year.” “Will the CNY outperformance repeat in the second half? This is probably a more dollar-centric rather than CNY-centric question. The dollar-weakening trend would likely result in the CNY underperforming other currencies.” “With the PBOC holding f

The post Australian Dollar: Tentative upside risk above 0.6980 against US Dollar – UOB appeared on BitcoinEthereumNews.com. United Overseas Bank’s (UOB) Quek Ser Leang sees AUD/USD confined to a 0.6915–0.6950 intraday range as momentum remains lacklustre. For 1–3 weeks, upward momentum is tentatively building, with rising risk of a break above 0.6980 while 0.6900 acts as strong support. Over 1–3 months, however, the broader trend remains negative, with focus on 0.6707 below 0.6835. Australian Dollar holds in tight band “24-HOUR VIEW: AUD fell to a low of 0.6921 two days ago. When it was at 0.6925 yesterday, we stated that “while AUD could retreat further, given the lacklustre downward momentum, any decline is likely to be contained within a 0.6900/0.6950 range.” AUD subsequently rose to 0.6946, dipped to 0.6907 before recovering to close marginally higher by 0.01% at 0.6929. There has been no clear shift in either downward or upward momentum, and AUD is likely to range-trade today, pro