is likely to extend the consolidation within the 7.2500-7.3300 range for the time being, comment Economist Lee Sue Ann and Markets Strategist Quek Ser Leang at UOB Group.24-hour view: We highlighted last Friday that USD “appears to have moved into a consolidation phase”, and we expected it to trade in a range between 7.2700 and 7.3000.” USD then traded in a narrower range than expected . The underlying tone has softened, and USD is likely to trade with a downward bias today.
Next 1-3 weeks: Our latest narrative was from last Thursday when we highlighted that, “the recent buildup in upward momentum has eased, and USD is likely to trade in a range of 7.2500/7.3300 for the time being.” There is no change in our view. Information on these pages contains forward-looking statements that involve risks and uncertainties.
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