USD/JPY: SET TO RISE BACK TO 146.50 – UOB GROUP
The US Dollar (USD) could trade in a range, likely between 144.40 and 146.50. USD is under pressure, but it does not appear to have sufficient momentum to threaten 141.66, the low registered early this month, UOB Group FX analysts Quek Ser Leang and Lee Sue Ann notes.
Bears may try to reach 141.66 near term
24-HOUR VIEW: “USD swung between 144.44 and 146.59 in NY trade yesterday before closing largely unchanged at 145.26 ( 0.01%). We are not able to glean much out of the price action. Today, USD could trade in a range, likely between 144.40 and 146.50.”
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