USD/MYR is still seen navigating within the 4.1750-4.2000 range for the time being, noted Quek Ser Leang at UOB Group’s Global Economics & Markets Research.

Key Quotes

“We highlighted last Monday (07 Feb, spot 4.1850) that daily MACD is ‘flattish’ and we held the view that USD/MYR ‘could continue to trade between 4.1620 and 4.2150 for a while more’.”

“Our view was not wrong even though USD/MYR consolidated in a quiet manner and within a narrow range of 4.1800/4.1890. The quiet price actions offer no fresh clues and USD/MYR could continue to trade sideways. Expected range for this week, 4.1750/4.2000.”