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USD/IDR: Still scope for further improvement – UOB

USD/IDR is still seen advancing further in the near term, comments Markets Strategist Quek Ser Leang at UOB Group.

Key Quotes

Last week, we expected USD/IDR to trade with an upward bias towards 15,160. We indicated that “The next resistance at 15,219 is highly unlikely to come under threat.” In line with our expectations, USD/IDR rose but did not threaten the 15,219 (high was 15,208). After the advance, upward momentum has improved, albeit not much.

This week, USD/IDR could consolidate for a few days first before breaking above 15,219. The next major resistance at 15,270 is likely out of reach for now. Support is at 15,120, followed by 15,010. 

EUR/JPY Price Analysis: Bulls continue to target 158.00

EUR/JPY extends Friday’s small gains and surpasses the key 156.00 hurdle at the beginning of the week. So far, the continuation of the upside momentum
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Limited room for the GBP to weaken much further from here – HSBC

The GBP weakened in the aftermath of a 25 bps hike by the Bank of England (BoE) on 3 August, with GBP/USD breaking below 1.27. Beyond the knee-jerk re
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