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Politics At The Fore

MYR

Spot USD/MYR has added 20 pips and last operates at MYR4.1970, with bulls looking for a jump above Mar 15 high of MYR4.2115. A break here would open up Jan 7 high of MYR4.2175. Bears need a dip through Mar 17 low of MYR4.1823 before targeting Mar 10/4 lows of MYR4.1750/30.

  • PM Ismail Sabri said he will dissolve parliament once he gains confidence that UMNO can win the next general election. We discussed the nuances around a potential snap election at length in last week's bullets, as the ruling party's annual general assembly was dominated by debates on the matter. UMNO leader Zahid wrapped up the event on Saturday by noting that it may be the party's last one before a general election, although Premier Ismail Sabri is believed not to favour an early poll.
  • Elsewhere, the Prime Minister defended his government's performance in engineering an economic recovery from the Covid-19 crisis, noting that Malaysia is on track to achieve its 2022 targets.
  • The main point of note on the local docket this week is provided by monthly CPI report, due for release on Friday.
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