Wednesday, July 27, 2016

· A range bound market ahead of global central banks meeting


Highlights of today’s FX Daily Outlook as follow:-

·         A range bound market ahead of global central banks meeting
·         Big picture continues to favour US dollar over Euro as market odds showing the Fed is more likely than not to raise rates by year-end
·         Should BoJ failed to match markets’ expectations, we see possibility of USD/JPY to test low of 101.36
·         Maintain a depreciation bias of MYR against US dollar with a trading range of 4.016-4.143

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