USD/MYR now seen trading within 4.5200-4.6400 – UOB – by pabspiovano USDMYR Malaysia Banks Currencies Crosses
is now predicted to remain side-lined between 4.5200 and 4.6400 in the near term, according to Markets Strategist at UOB Group Quek Ser Leang.“We highlighted last Monday that the uptrend in USD/MYR has ended. We added, ‘the pullback has room t extend but a sustained decline below 4.5500 is unlikely’. The anticipated weakness exceeded our expectations as USD/MYR plummeted to 4.4950 before rebounding. The rebound amid oversold conditions suggests USD/MYR is unlikely to weaken further.
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USD/MYR now seen trading within 4.5200-4.6400 – UOBUSD/MYR is now predicted to remain side-lined between 4.5200 and 4.6400 in the near term, according to Markets Strategist at UOB Group Quek Ser Leang.
Read more »