Chinese Yuan: Neutral tone within tight band against US Dollar – UOB

FXStreet Insights Team FXStreet

United Overseas Bank’s (UOB) Quek Ser Leang and Lee Sue Ann keep a neutral stance on USD/CNH, expecting intraday consolidation between 6.7760 and 6.7880 after recent directionless trading. On a 1–3 week horizon, the pair is seen holding a broader 6.7620–6.7980 range. Over 1–3 months, they anticipate USD/CNH will continue grinding lower, though it is uncertain whether the 2023 low at 6.6980 will be reached.

Range trading as broader downtrend lingers

"24-HOUR VIEW: USD dipped to a low of 6.7690 two days ago and then recovered. When USD was at 6.7780 yesterday, we indicated that “we do not observe any increase in downward momentum,” and we expected USD “to trade in a range between 6.7700 and 6.7840.” We continue to expect range-trading but the slightly firmer underlying tone suggests a higher range of 6.7760/6.7880."

"1-3 WEEKS VIEW: We turned neutral on USD last Thursday (04 Jun, spot at 6.7750), and we indicated that USD “is likely to trade between 6.7620 and 6.7980 for the time being.” Since then, USD traded in a directionless manner, holding within our expected range, and we maintain the same view for now."

(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor.)

Author

FXStreet Insights Team

FXStreet

The FXStreet Insights Team is a group of journalists that handpicks selected market observations published by renowned experts. The content includes notes by commercial as well as additional insights by internal and external analysts.

GBP/USD strengthens beyond mid-1.3300s vs weak USD amid fresh Iran diplomacy hopes

The GBP/USD pair builds on Friday's modest bounce from a three-week low and gains strong follow-through positive traction at the start of a new week. This marks the second straight day of a positive move and lifts spot prices above mid-1.3300s during the Asian session amid a broadly weaker US Dollar.

EUR/USD climbs beyond 1.1400 as renewed Iran diplomacy hopes undermine safe-haven USD

The EUR/USD pair builds on a modest bullish gap opening and climbs back above the 1.1400 mark during the Asian session on Monday. The intraday move up is sponsored by a broadly weaker US Dollar, weighed down by renewed optimism over a diplomatic resolution to end a five-month-old US-Iran war.

Gold stays firm near $4,100 os Iran diplomacy hopes

Gold holds the bullish gap-up opening on Monday, around $4,100, as hopes of US-Iran peace talks weigh heavily on crude oil prices, easing inflation fears and tempering Fed rate-hike bets. Moreover, the optimism drags the safe-haven US Dollar away from a one-month top, touched on Friday, and supports the non-yielding bullion.

Bitcoin extends winning streak, Ethereum clears key hurdle, XRP steadies

Bitcoin, Ethereum and Ripple begin the week on a firm footing after surging over 1%, 4% and 1%, respectively, in the previous week. BTC holds above key technical resistance after recording its fourth consecutive weekly gain.

Australian Dollar outlook: Chances of another rally won’t be decided in Canberra, but in Washington

The Australian Dollar rode a rollercoaster in the first half of the year, hitting a four-year high and then correcting. The currency enters the second half with an outlook full of uncertainty due to renewed hostilities in the Middle East, which clouds the inflation outlook and interest rates.

US Dollar mid-year outlook: Exceptional currency, exceptional risks?

The US Dollar enters the second half of 2026 in a markedly different position from a year ago. The King currency has recovered, reflecting persistent US inflation, changing expectations for Fed policy, geopolitical tensions and renewed demand for defensive assets.