The US Dollar (USD) is likely to trade in a range, probably between 143.80 and 145.20. In the longer run, USD remains under pressure; increase in momentum has increased the chance of it reaching 141.66, UOB Group analysts Quek Ser Leang and Lee Sue Ann note.
USD set to breach above 145.20
24-HOUR VIEW: “We expected USD to trade with a downward bias yesterday. However, instead of declining, USD rebounded from 143.67 to 145.04 and then pulled back to close at 144.57 ( 0.43%). We are not able to glean much of the price action. Today, we expect USD to trade in a range, probably between 143.80 and 145.20.”
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