USD/MYR: No changes to the consolidative mood – UOB

Pablo Piovano FXStreet

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.

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

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