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Ringgit Pressured On Friday

MYR

The Ringgit has been pressured in early dealing on Friday, Thursday's uptick in US Tsy Yields is weighing. A reminder that the latest 30-Year Tsy auction was poorly received by the market as the auction tailed and US Tsy Yields extended gains in the NY session.

  • USD/MYR sits at touch above the 4.72 handle and has risen ~0.6%. The pair has erased all its post-NFP losses.
  • Bulls focus on the 20-Day EMA (4.7248) which opens the 4.80 handle. On the downside bears look to break the 4.70 handle to target the 200-Day EMA (4.5999).
  • A reminder that the local docket is empty today.

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