US Dollar (USD) is likely to trade in a range between 6.9650 and 6.9800. In the longer run, USD remains neutral but is now expected to trade in a lower range of 6.9520/6.9900, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

USD remains neutral

24-HOUR VIEW: "Yesterday, USD traded between 6.9674 and 6.9766, narrower than our expected range of 6.9620/6.9820. The price action provides no fresh clues, and we continue to expect USD to trade in a range, most likely between 6.9650 and 6.9800."

1-3 WEEKS VIEW: "Our update from yesterday (13 Jan, spot at 6.9710) remains valid. As highlighted, we maintain our neutral view from last week, but we now expect USD to trade in a lower range of 6.9520/6.9900."