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Rangebound Ahead Of Local CPI Data

MYR

Spot USD/MYR rangebound in early trade, consolidating Tuesday gains ahead of the release of inflation data. The pair last sits at MYR4.0627, 17 pips better off.

  • PM Muhyiddin will announce the gov't's National Tourism Policy 2020-2030 in an online address to be broadcast on Tourism and Culture Ministry's Facebook page at 9:30 local time.
  • Tuesday saw the PM announce that he will be among the first recipients of Pfizer's Covid-19 vaccine in Malaysia once it is rolled out to boost public confidence in the jab. Inoculation may begin in February and is expected to cover 80% of the population.
  • A break above Dec 15 high of MYR4.0675 would allow bulls to set their sights on Dec 7 high of MYR4.0885. On the flip side, a slide through Dec 18 low of MYR4.0310 would reinstate bearish momentum, opening up trendline support at MYR4.0240.
  • Local CPI headlines in Malaysia today/this week.

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