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Ringgit Firms As US Yields Fall, BNM On Tap

MYR

The Ringgit has firmed in early trade on Thursday as US Tsy Yields fell after the FOMC meeting on Wednesday, extending losses on Thursday in Asia.

  • USD/MYR is ~0.4% lower, last printing at 4.7500/40.
  • The pair remains in an uptrend and bulls target a break of the 4.80 handle. On the downside bears look to sustain a break of the 20-Day EMA (4.7530) which opens the low from 2 Oct (4.6900).
  • On tap today we have that latest monetary policy decision from the BMN, there is no change to policy expected.

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