USD/MYR now predicted to trade within 4.6950-4.7400 – UOB

Further side-lined trading in USD/MYR is probable in the near term, likely between 4.6950 and 4.7400 according to Markets Strategist Quek Ser Leang at UOB Group’s Global Economics & Markets Research.

Key Quotes

“USD/MYR snapped its 8-week winning streak as it closed lower by 0.34% last Friday. The price action is likely the early stages of a consolidation phase”.

“In other words, USD/MYR is likely to trade sideways this week, expected to be within a range of 4.6950/4.7400”.