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USD/CNH is expected to consolidate between 7.1200 and 7.1380 – UOB Group

US Dollar (USD) is expected to consolidate between 7.1200 and 7.1380. In the longer run, for the time being, USD is likely to trade in a range between 7.1000 and 7.1480, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

USD is likely to trade in a range

24-HOUR VIEW: "Yesterday, we expected USD to 'consolidate between 7.1210 and 7.1380.' USD subsequently traded in a range of 7.1230/7.1394, closing largely unchanged at 7.1273 (-0.02%). Momentum indicators are mostly flat, and we continue to expect consolidation today, most likely between 7.1200 and 7.1400."

1-3 WEEKS VIEW: "Our update from two days ago (30 Sep, spot at 7.1275) remains valid. As highlighted, 'the current price movements are likely part of a range-trading phase between 7.1000 and 7.1480'."


GBP gains on hot inflation expectations – BBH

Pound Sterling (GBP) is firmer against USD and steady versus EUR after the BoE’s September survey revealed a surprise uptick in inflation expectations.
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CAD lags majors after BoC cut – BBH

The Canadian Dollar (USD) is underperforming as the BoC’s September minutes underscored trade-policy uncertainty and labor market risks.
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