Forex News USD/CNY likely to drop after yesterday's sharp gains; still, USD's overnight rebound vs JPY may cap downside vs CNY. Pair expected to move in 6.8100-6.8300 range vs yesterday's 6.8213 close. "While it's unlikely for the yuan to post another sharp gain against the dollar in the second half like the first half, the yuan will continue to retain its upward bias (vs USD) because of rising evidence of deterioration in the U.S. financial sector," says Shanghai-based trader at local bank; USD has dropped 6.8% vs CNY since start of year. Fixing rate tipped between 6.8150 and 6.8250.
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