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MYR Falls As Malaysian Opposition Leader Says Government Collapsed

DOLLAR-MYR

USD/MYR is pushing higher after Malaysian opposition leader Anwar said that PM Muhyiddin has lost parliamentary majority. Anwar says he has already notified the King and is ready to form the new government on the back of a strong, multi-party parliamentary majority which backs his bid to become the new PM.

  • Spot USD/MYR trades +195 pips at MYR4.1520 as we type. Next resistance seen at MYR4.1757, the high of Sep 9. On the downside, focus falls on Sep 21 low of MYR4.1080.
  • Worth noting that Malaysian CPI deflation accelerated slightly more than expected in August.

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