US Greenback (USD) is prone to commerce in a variety between 146.90 and 148.20 in opposition to Japanese Yen (JPY). Within the longer run, USD is anticipated to commerce in a variety of 146.90/149.20, UOB Group’s FX analysts Quek Ser Leang and Peter Chia be aware.
USD is anticipated to commerce in a variety
24-HOUR VIEW: “Our expectation for USD to ‘commerce in a variety between 147.80 and 148.85’ yesterday was incorrect, as USD plummeted to a low of 147.06 earlier than rebounding. The rebound from oversold situations means that USD is unlikely to weaken a lot additional. Right now, USD is prone to commerce in a variety between 146.90 and 148.20.”
1-3 WEEKS VIEW: “Final Thursday (16 Jul, spot at 148.30), we highlighted that the latest ‘USD power has paused for now,’ and we anticipated USD to ‘commerce in a variety of 146.90/149.20.’ Yesterday, USD fell to a low of 147.06. There was a slight improve in downward momentum, however not sufficient to point a continued decline for now. In different phrases, we proceed to carry the identical view.”
