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IPC Index — Mexico MarketUS Dollar (USD) remains neutral but is now expected to trade in a lower range of 6.9520/6.9900, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note.
USD/CNH is expected to trade in a lower range of 6.9520/6.9900
24-HOUR VIEW: “USD traded between 6.9676 and 6.9780 yesterday, narrower than our expected range of 6.9650/6.9800. The price movements still appear to be part of a range-trading phase. Today, we expect USD to trade between 6.9650 and 6.9770.”
1-3 WEEKS VIEW: “We have held a neutral USD view since last week. In our latest narrative from two days ago (13 Jan, spot at 6.9710), we stated that USD ‘remains neutral but is now expected to trade in a lower range of 6.9520/6.9900’. Our view remains unchanged.”
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