The present worth motion seems to be a part of a 147.65/148.85 vary buying and selling part. Within the longer run, USD power has paused for now; it’s anticipated to commerce in a variety of 146.90/149.20, UOB Group’s FX analysts Quek Ser Leang and Peter Chia notice.
Present worth motion seems to be a part of a 147.65/148.85
24-HOUR VIEW: “Following the unstable worth motion two days in the past, we indicated yesterday that ‘the sharp fluctuations have resulted in a combined outlook.’ We had been of the view that USD ‘might proceed to fluctuate, probably between 147.50 and 148.80.’ USD subsequently traded in the next vary than anticipated (147.71/149.09) earlier than closing at 148.60 (+0.50%). The worth motion seems to be a part of a variety buying and selling part. At present, we anticipate USD to commerce between 147.65 and 148.85.”
1-3 WEEKS VIEW: “After holding a optimistic USD stance for greater than per week, we revised our view to impartial yesterday (16 Jul, spot at 148.30). We said that ‘USD power has paused for now,’ and we anticipated it to ‘commerce in a variety of 146.90/149.20.’ Our view stays unchanged.”
