USDJPY is expected to remain within the consolidative 138.50-142.50 range in the next weeks, comment Economist Lee Sue Ann and Markets Strategist Quek Ser Leang at UOB Group.
Key Quotes
24-hour view: “We expected USD to ‘trade within a range of 138.90/140.20’ yesterday. USD subsequently dropped to 138.86 before staging a surprisingly sharp advance to 140.74. The rapid rise appears to be running ahead of itself and USD is unlikely to advance much further. For today, USD is more likely to trade between 139.50 and 140.80.”
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