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Gov't Open To Deals With More Opposition Parties

MYR

Spot USD/MYR reopened on a softer footing and last sits -48 pips at MYR4.1455. Further losses past Sep 10 low of MYR4.1300 would allow bears to set their sights on the 200-DMA at MYR4.1186. Conversely, bulls need a jump above the 100-DMA at MYR4.1635 before challenging the 50-DMA, which intersects at MYR4.1995.

  • PM Ismail Sabri yesterday signed off on a confidence-and-supply agreement with the main opposition alliance Pakatan Harapan, whose lawmakers agreed to support or abstain in the vote on Budget 2022 and not to dissolve parliament before Jul 31, 2022. The pact is expected to stabilise Malaysia's political climate after months of turmoil. Communications Min and UMNO lawmaker Annuar, who helped broker the agreement, said that the government may negotiate similar deals with other opposition parties.
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