USD/MYR: No changes to the consolidative mood – UOB
|USD/MYR is seen extending the side-lined trading for the time being, suggests UOB Group’s Markets Strategist Quek Ser Leang.
Key Quotes
Last week, we expected USD/MYR to trade in a range between 4.5230 and 4.6000. However, USD/MYR dipped to 4.5150 and then rebounded to end the week little changed at 4.5530 (-0.09%). Despite dropping to 4.5150, there is no clear increase in momentum.
This week, we continue to expect USD/MYR to trade in a range, probably between 4.5250 and 4.5790.
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