Chinese Yuan: Neutral within defined band against US Dollar – UOB

UOB’s Quek Ser Leang and Lee Sue Ann report a sharp rebound in USD/CNH above 6.78, which invalidated their prior bearish view. They now see the pair as neutral, expecting consolidation between 6.7620 and 6.7980 near term, with 6.7850 and 6.7980 acting as key resistance levels.