24-hour view: We expected USD to trade between 148.00 and 149.20 last Friday. However, it traded in a higher range than expected (148.33/149.53). Further range trading appears likely, even though the slightly firm underlying tone suggests a higher range of 148.60/149.70. 

Next 1-3 weeks: Our latest narrative was from last Wednesday (04 Oct, spot at 149.10), wherein the recent sharp fluctuations have muddled the outlook for USD, and we expected USD to trade in a broad range of 145.90/150.50. The price actions since last Wednesday did not offer any further clues. We continue to expect USD to trade in a range, albeit likely in a narrower one of 147.00/150.50.