More Opposition Lawmakers Rally Behind PM Muhyiddin

Spot USD/MYR trades -20 pips at MYR4.1165, consolidating after Friday's 120 pip rally, which seemed driven primarily by broader demand for the greenback.

• The Malaysian Star cited Federal Territories Min Annuar as noting that more opposition lawmakers are expected to defect and declare support for PM Muhyiddin, helping the head of gov't tighten his grip on power.
• Saturday saw Xavier Jayakumar, the vice-pres of the People's Justice Party led by Anwar Ibrahim, quit the party and publicly back the gov't as an independent lawmaker.
• Anwar told Mingguan Malaysia that he will one day become PM, even as "those with billions of ringgit do not really agree with me." He also insisted that Umno & PKR, now members of the ruling coalition, are not that ideologically distant from his party.
• A rally above Mar 10 high of MYR4.1382 would allow bulls to target the 200-DMA, which intersects at MYR4.1469. On the flip side, a slide through Mar 12 low of MYR4.1045 would expose the 100-DMA, which kicks in at MYR4.0749.
• Health Min and Science, Tech & Innovation Min will hold a joint media briefing on Malaysia's Covid-19 immunisation programme today.
• There is little of note on Malaysia's economic docket this week.