The US dollar (USD) may rebound further, but is likely to be a high class part of 147.20/148.25 in any advance. For a long time, the bottom speed is slowing down; FX analysts of UOB Group Quake Ser Lyng and Peter Chia Note are decreasing the chances of moving forward.
The bottom speed is slowing down
24-hour view: “Last Friday, we expected the USD to trade within the range of 146.60/147.70.” The USD is then immersed by 146.71, which stages the stunningly strong rebound, which can reach a high of 147.90.
1-3 weeks of view: “In our most recent story from last Monday (Spot on August 04, 147.25), we highlighted that ‘there is a scope to expand a sharp fall in the USD since last Friday.’ However, we said that ‘no decline can be below 145.80’. Since then, the USD has not been able to do too much headway for the negative side.
