USD/MYR: Further range bound remains on the table – UOB

Market Strategist Quek Ser Leang at UOB Group suggests USD/MYR is likely to face extra consolidation between 4.3930 and 4.4350 in the near term.

Key Quotes

“Last week, we expected USD/MYR to trade in a range between 4.38 00 and 4.4350.”

“Our view for USD/MYR to trade in a range was not wrong even though USD/MYR traded in a narrower range than expected (4.3920-4.4310). Further range trading appears likely, expected to be between 4.3930 and 4.4350.”