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Covid Case Count Rises, Transmission Accelerates In Pahang After Move To Phase 2 Of NRP

MYR

Spot USD/MYR has crept higher this morning and last operates at MYR4.1623, 78 pips higher on the day. Bulls need Jul 2 high of MYR4.1663 to give way, before they can target Jun 24 high of MYR4.1710. Bears look for a dip through Jun 25 low of MYR4.1423, before taking aim at the 50-DMA, which kicks in at MYR4.1306.

  • Malaysia's daily count of new Covid-19 cases rose to the highest level in more than a month, as the country declared 7,654 infections on Tuesday.
  • The Ministry of Health said that Pahang now has the highest Covid-19 reproduction rate (1.24) in the country, after the state moved to phase 2 of the National Recovery Plan.
  • Bank Negara Malaysia will deliver their monetary policy decision tomorrow. Almost all of 21 analysts surveyed by BBG expect policymakers to leave the OPR unchanged at 1.75%, with two dissenters from Nomura and OCBC looking for a 25bp cut.

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