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PM Muhyiddin Floats Idea Of Setting Vaccination Registration Deadline

MYR

Spot USD/MYR has slipped in early trade and last sits at MYR4.1115, 40 pips worse off on the day and off the session low located at MYR4.1075. The rate has been happy to hug yesterday's range so far.

  • PM Muhyiddin proposed setting a deadline for Covid-19 vaccination registration. It wasn't anything resembling a firm commitment, but the PM noted that "for example (...) if we close by June, those who did not register by the end (of the month) will not get the vaccination."
  • Singapore's Foreign Min's two-day visit in Malaysia has started, with the two countries set to discuss vaccine certificates.
  • A dip through Mar 18 low of MYR4.1020 would shift bearish focus to the 100-DMA at MYR4.0726, while bulls need a clearance of Mar 19 high of MYR4.1265 before targeting Mar 10 high/200-DMA at MYR4.1382/4.1399.
  • Malaysian CPI is due for release tomorrow. BBG consensus forecast is for a reading of +0.2% Y/Y, with estimates ranging from -0.7% to +0.6%.

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