USD/MYR: Further range bound on the table – UOB

The Malaysian ringgit is expected to keep its consolidation intact vs. the greenback in the 4.1760-4.1960 range for the time being, suggested Quek Ser Leang at UOB Group’s Global Economics & Markets Research.

Key Quotes

“We expected USD/MYR to trade within a range of 4.1750/4.2000 last week. USD/MYR subsequently traded within a narrower range than expected (4.1800/4.1920).”

“The quiet price actions offer no fresh clues and we continue to expect USD/MYR to trade sideways, expected to be between 4.1760 and 4.1960.”