RSS USD/CNH: Major support at 7.2420 is likely out of reach – UOB Group

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 RSS USD/CNH: Major support at 7.2420 is likely out of reach – UOB Group

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Further US Dollar (USD) weakness is not ruled out; the major support at 7.2420 is likely out of reach for now. In the longer run, decline in USD seems excessive, but there is potential for a test of 7.2420, UOB Group’s FX analysts Quek Ser Leang and Lee Sue Ann note.
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