The US Greenback (USD) is prone to commerce in a sideways vary of seven.0700/7.1300, UOB Group FX analysts Quek Ser Leang and Lee Sue Ann observe.
Rangebound in the intervening time
24-HOUR VIEW: “Yesterday, we anticipated USD to commerce in a variety between 7.0900 and seven.1100 USD subsequently traded in a barely greater vary of seven.0928/7.1118. The value actions didn’t end in any improve in both downward or upward momentum. Right now, we proceed to count on USD to commerce in a variety, seemingly between 7.0910 and seven.1110.”
1-3 WEEKS VIEW: “Our replace from yesterday (17 Sep, spot at 7.1005) stays legitimate. As highlighted, momentum indicators are largely impartial, and USD is prone to commerce in a sideways vary of seven.0700/7.1300.”
