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Ringgit On Softer Footing Despite Malaysia Reaching Vaccination Milestone

MYR

Spot USD/MYR reopened slightly higher and last sits at MYR4.1888, 45 pips better off (still within the confines of yesterday's range). Bulls need a clearance of the 50-DMA at MYR4.2014 before setting their sights on Aug 18 cycle high of MYR4.2450. On the flip side, a pullback under the 100-DMA at MYR4.1667 would bring Sep 10 low of MYR4.1300.

  • Malaysia has reached a major milestone of achieving herd immunity against Covid-19 by fully vaccinating 80% of its adult population. National Recovery Council Chair Muhyiddin said he has asked ministers to review standard operating procedures as Malaysia transitions to the endemic phase of Covid-19.

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