The US Dollar (USD) weakness has stabilised; there is no clear directional bias, and it could trade in a broad range of 146.00/152.00, UOB Group Quek Ser Leang and Lee Sue Ann note.

USD may try to reach 149.50 near term

24-HOUR VIEW: “Our view for USD to trade in a range yesterday was incorrect, as it surged during NY trading, closing sharply higher by 1.33% (149.27). After the sharp and swift rise, conditions are severely overbought. However, barring a breach of 148.20 (minor support is at 148.60), USD could rise above 149.50 before levelling off. The next resistance at 150.00 is unlikely to come under threat.”