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.