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MYR:   Ringgit Gains as USD Has Biggest Decline Since January.  

MYR
EM BulletBulletAPACEmerging Market News
  • The USD had its biggest fall since late January overnight, giving a boost to regional currencies today.
  • A strong start for all major currencies did lose some of the early momentum as profit takers came in.
  • The ringgit has gained +.10% today at 4.4250.
  • The ringgit has been very stable in February as evidenced by the convergence of the 20,50 and 100-day EMAs.  
  • Later this afternoon the Bank Negara Malaysia meets to decide on monetary policy with an overwhelming majority of economists prediction they will remain on 3.00% where it has been at since May 2023. 
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  • The USD had its biggest fall since late January overnight, giving a boost to regional currencies today.
  • A strong start for all major currencies did lose some of the early momentum as profit takers came in.
  • The ringgit has gained +.10% today at 4.4250.
  • The ringgit has been very stable in February as evidenced by the convergence of the 20,50 and 100-day EMAs.  
  • Later this afternoon the Bank Negara Malaysia meets to decide on monetary policy with an overwhelming majority of economists prediction they will remain on 3.00% where it has been at since May 2023.