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Ringgit Holds Familiar Range, Malaysia Looks Into Easing Border Rules

MYR

Spot USD/MYR trades flat at MYR4.1903, as the ringgit awaits fresh catalysts, while the imminent announcement of the Fed's policy decision continues to draw attention.

  • A breach of Jan 19 high of MYR4.1960 would allow bulls to take aim at MYR4.2175, which capped gains on Jan 7. Meanwhile, a fall through the 200-DMA/Jan 13 low at MYR4.1728/20 would expose Dec 31 low of MYR4.1642.
  • PM Ismail Sabri noted that consultations will be held with the Health Ministry to "slightly relax" Covid-19 protocols for vaccinated foreign visitors.
  • Malaysia's trade surplus is expected to have expanded in December, amid declines in both exports and imports. The data is due Friday.

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