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Quiet Return From Long Weekend


Spot USD/MYR is rangebound as Malaysian markets re-open after a long weekend linked to the Lunar New Year holidays. The rate last sits at MYR4.0425, 12 pips better off.

  • Science, Technology & Innovation Min Khairy pushed back against conspiracy theories surrounding the Covid-19 jab and called on Malaysians to support the national vaccination programme, expected to kick off at the start of this month.
  • Friday saw comments from FinMin Zafrul, who said that the Employees Provident Fund will allow members under 55 years old to withdraw from their Account 1 funds.
  • The rate operates just shy of its 50-DMA, with bulls looking for a return above that moving average. This would open up Feb 10 high of MYR4.0680, followed by Feb 5 high of MYR4.0767. Meanwhile, a slide through Feb 10 low of MYR4.0360 would draw attention to Jan 29 low of MYR4.0285.
  • Malaysia's economic docket is virtually empty this week.

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