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Free AccessMYR Falls As Malaysian Opposition Leader Says Government Collapsed
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.
To read the full story
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.