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Malaysia To Study Support Measures, Take Steps After King's Call To Reopen Parliament

MYR

Spot USD/MYR blipped higher at the reopen, having a look above yesterday's high. The rate last trades +28 pips at MYR4.1423, with bulls setting their sights on May 24 high of MYR4.1497. On the flip side, a retreat under the 50-DMA at MYR4.1236 would clear the way to Jun 11 low/200-DMA at MYR4.1070/49.

  • PM Muhyiddin's office said that the gov't will take "subsequent steps" after the King called for the parliament to reconvene as soon as possible. The PM's office did not provide any details, after the gov't and the opposition have clashed over the timetable for reopening parliament.
  • Elsewhere, FinMin Zafrul told Astro Awani that officials are looking into additional support measures for people and businesses, which could include an extension to the wage subsidy scheme.
  • Malaysia's vaccine czar Khairy suggested that Malaysia could start mixing two different Covid-19 jabs, but officials will study this option before making a decision.
  • There's nothing much on the local docket today, focus next week turns to the local CPI data for the month of May.

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