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BLOCK, Conditional Curve Flattener

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MYR

USD/MYR has softened in early trade, catching up with overnight greenback weakness and narrowing in on the 50-DMA, intersecting at MYR4.0503. A breach of that level would shift focus to Jan 21/29 lows of MYR4.0290/85. On the topside, gains past Feb 5 high of MYR4.0767 would bring Dec 7 high of MR4.0885 into play. The rate last sits -65 pips at MYR4.0600.

  • The Malaysian Investment Development Authority (MIDA) insisted that foreign investor confidence remained high, despite UN data suggesting that the country suffered the largest fall in FDI in the region last year.
  • Malaysia reported a daily record of deaths from Covid-19 24 on Monday and declared 3,100 new infections.
  • All eyes are on Malaysia's Q4 GDP report, due Thursday.
MNI London Bureau | +44 203-865-3806 | krzysztof.kruk@marketnews.com
MNI London Bureau | +44 203-865-3806 | krzysztof.kruk@marketnews.com
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