USD/MYR: Further range bound on the table – UOB
|The Malaysian ringgit is expected to keep its consolidation intact vs. the greenback in the 4.1760-4.1960 range for the time being, suggested Quek Ser Leang at UOB Group’s Global Economics & Markets Research.
Key Quotes
“We expected USD/MYR to trade within a range of 4.1750/4.2000 last week. USD/MYR subsequently traded within a narrower range than expected (4.1800/4.1920).”
“The quiet price actions offer no fresh clues and we continue to expect USD/MYR to trade sideways, expected to be between 4.1760 and 4.1960.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.