USD/MYR: Further range bound trade likely near term – UOB

In opinion of Markets Strategist Quek Ser Leang at UOB Group, USD/MYR is expected to keep the 4.3800-4.4350 range unchanged this week.

Key Quotes

“Last week, we expected USD/MYR to trade in a range between 4.4100 and 4.4700. However, USD/MYR dipped to 4.3800 before rebounding to end the week at 4.4100 (0.36%).”

“Despite the decline, there is no significant improvement in downward momentum. We continue to expect USD/MYR to trade in a range this week, likely between 4.3800 and 4.4350.”