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Ringgit Firms In Early Dealing, BNM In View

MYR

USD/MYR sits at 4.6420/50, the pair is ~0.1% lower as the Ringgit prints its highest level since June 20.

  • The pair has been supported at the 20-Day EMA (4.6381) in recent dealing, bulls target a break below the measure which opens the low from June 6 at 5.5725.
  • Palm Oil is a touch below Monday's high, the contract rallied on supply concerns in the US. We sit ~23% above cycle lows seen in early June.
  • Tomorrow's BNM monetary policy decision is now firmly in view, no change to policy is expected. The MNI preview is here.

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