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Ringgit Firms On Thursday

MYR

The Ringgit has ticked higher on as the downtick in US Tsy Yields seen yesterday provides a level of support.

  • USD/MYR print at 4.6480/4.6520, ~0.2% lower today. The remains well within the recent 4.63/4.70 which has persisted for the most part recently.
  • Bulls look to break the high from 18 Dec (4.7015) to target the 4.80 handle. Bears now target a break of the 200-Day EMA (4.6180) to re-establish a downtrend, a break of the measure opens the low from 31 Jul at 4.4957.
  • Looking ahead; the local data docket is empty today, tomorrow November CPI is due. A downtick in CPI to 1.7% Y/Y from 1.8% Y/Y is expected.

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