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Ringgit Firms After FOMC Meeting

MYR

The Ringgit is firmer in early dealing as broader USD trends, which have seen the greenback weaken in Asia after yesterday's FOMC meeting, dominate flows.

  • USD/MYR is down ~0.6% and last prints at 4.5215/60. The pair sits a touch off month to date lows and is at its lowest level since 14 July.
  • Bears first target the 200-Day EMA (4.5010), a break through here opens the low from Apr 14 at 4.3828. Bulls target the 20-Day EMA (4.5852) to turn the tide.
  • Looking ahead, next Tuesday's July S&P Global Mfg PMI print is the next data of note. There is no estimate as of yet and the prior read was 47.7.

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