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Pressured In Early Trade, CPI Falls To Lowest Since June 2022

MYR

USD/MYR is ~0.3% firmer in early trade on Monday. The pair last prints at 4.6880/4.6920

  • The Ringgit now sits at its weakest level since 11 Nov 2022 weakening ~2% in June.
  • Bulls target the high from 4 Nov at 4.7495. Bear immediate focus is on 4.6220, the 20-Day EMA.
  • On Friday, CPI fell to its lowest level since June 2022 in May printing at 2.8% Y/Y softer than the expected 3.0%.
  • Looking ahead, the data calendar is empty this week.

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