US Dollar (USD) is likely to trade in a range between 7.1330 and 7.1460. In the longer run, USD is expected to trade in a range between 7.1200 and 7.1550, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note.
USD/CNH is expected to trade in a range for now
24-HOUR VIEW: “Yesterday, USD traded between 7.1320 and 7.1426, narrower than our expected range of 7.1280/7.1500. The price action provides no fresh clues, and we continue to expect range-trading today, most likely between 7.1330 and 7.1460.”
1-3 WEEKS VIEW: “In our most recent narrative from last Friday (10 Oct, spot at 7.1370), we indicated that USD ‘is expected to trade in a range for now, most likely between 7.1200 and 7.1550.’ We continue to hold the same view.”