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Marginally Softer, Docket Empty Today

MYR

The Ringgit is a touch weaker today, looking through broader USD trends and is under performing the USD/Asia space.

  • USD/MYR sits ~0.1% higher at 4.7335/65 and is at session highs, extending yesterday's ~0.4% gain.
  • Technically the uptrend in USD/MYR remains in place, bulls target a break of the YTD high (4.7397) this opens 4.7973 a Fibonacci projection. On the downside bears look to first break the 20-Day EMA (4.7031) to turn the tide.
  • A reminder that the local data docket is empty today, the only data of note this week is Thursday's August Industrial Production print.

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