US Greenback (USD) is more likely to consolidate in a 142.20/144.00 vary. Within the longer run, USD has possible entered a consolidation section and is more likely to commerce between 142.20 and 146.70 for now, UOB Group’s FX analysts Quek Ser Leang and Peter Chia observe.
USD/JPY has possible entered a consolidation section
24-HOUR VIEW: “Yesterday, we anticipated USD to commerce in a 143.40/144.85 vary. Nevertheless, USD plunged and closed at 142.41 (-0.90%). USD rebounded strongly after the NY shut. The rebound, coupled with slowing momentum and oversold circumstances, suggests USD will possible consolidate. Anticipated vary for at present: 142.20/144.00.”
1-3 WEEKS VIEW: “The next are excerpts from our replace yesterday, 06 Could, when USD was at 144.00: ‘The preliminary rebound from the late April low of 139.86 has been sturdy, however upward momentum has since slowed. USD has possible entered a consolidation section, and it’s more likely to commerce between 142.20 and 146.70 for now.’ Our replace nonetheless stands. Wanting forward, ought to USD break and maintain beneath 142.20, it may set off a deeper pullback.”
