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Ringgit Paring June's Losses

MYR

The Ringgit has pared some of June's losses in recent sessions, USD/MYR was up as much as 2% however the pair now sits ~1.2% firmer through June. Broader greenback trends have dominated flows in recent sessions.

  • USD/MYR prints at 4.6640/70, the pair is ~0.1% lower today.
  • Bulls target the high from 4 Nov at 4.7495. Bear immediate focus is on 4.6289, the 20-Day EMA.
  • Palm Oil futures are up ~2% today, and sit ~17% firmer than the cycle lows in early June.
  • Looking ahead the data calendar is empty this week

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