USD/MYR now targets the 4.4615 region – UOB

Pablo Piovano FXStreet

Further upside is likely to prompt USD/MYR to revisit the 4.4615 level in the short-term, according to FX Strategist Quek Ser Leang at UOB Group’s Global Economics & Markets Research.

Key Quotes

“Our view for USD/MYR to edge higher last week was incorrect as it dropped sharply to 4.4310 before rebounding. USD/MYR traded on a firm note during early Asian hours today and the improved shorter-term upward momentum could lead to a retest of last week’s high at 4.4615.”

“At this stage, a sustained advance above this level appears unlikely. On the downside, support is at 4.4400 ahead of the 4.4310 low. The low is unlikely to come under threat this week.”

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.

GBP/USD holds recovery gains near 1.3400 despite soft UK CPI data

GBP/USD clings to recovery gains near 1.3400 in European trading on Wednesday. The UK annual Consumer Price Index (CPI) inflation cooled to 2.6% in June against the market forecast of 2.7%, failing to deter the British Pound's rebound from weekly troughs. However, the pair's further upside could be limited by ongoing Mideast tensions and sustained US Dollar demand as a haven.

EUR/USD gains ground above 1.1400 on hawkish ECB tone

The EUR/USD pair holds positive ground near 1.1410 during the early European trading hours, bolstered by a hawkish tone from the European Central Bank. However, the potential upside for the major pair might be limited amid escalating military tensions and recent retaliatory airstrikes between the US and Iran.

Gold ease from two-week top as energy-driven inflation fears bolster Fed hike bets

Gold retreats slightly from a two-week high touched earlier this Wednesday, albeit it retains an intraday bullish bias through the first half of the European session. Hopes that US-Iran diplomacy could ease energy prices and temper hawkish US Federal Reserve expectations undermine the US Dollar, which is seen supporting the commodity. In fact, top negotiators for Iran and the US signaled that they have not walked away from talks.

Cardano: Short-term recovery lacks retail support

Cardano price edges lower after the 50-day Exponential Moving Average at $1.770 capped two consecutive days of recovery seen earlier this week. ADA futures point to waning retail traction as Open Interest and trading volume decline amid elevated long liquidations. The technical outlook for ADA is bearish, as momentum remains subdued below a resistance trendline near $0.1782.

Chip stocks are more volatile than Oil

I continue to start the day by looking at these two charts: US crude & Kospi. The former is extending gains, trading above $86 per barrel for WTI and $92 per barrel for Brent, while the Kospi is up more than 4.5%, led higher by Korean chipmakers following a similar jump in VanEck's Semiconductor ETF yesterday.

US Dollar mid-year outlook: Exceptional currency, exceptional risks?

The US Dollar enters the second half of 2026 in a markedly different position from a year ago. The King currency has recovered, reflecting persistent US inflation, changing expectations for Fed policy, geopolitical tensions and renewed demand for defensive assets.