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Ringgit Rangebound

MYR

Spot USD/MYR has slipped in early trade and last trades -20 pips at MYR4.2310. The initial bearish target is provided by Dec 13 low of MYR4.2073 and a break here would expose Dec 1 low of MYR4.2000. On the flip side, a jump above Dec 3 high of MYR4.2372 would shift focus to Nov 26 high of MYR4.2490.

  • PM Ismail Sabri pledged commitment to implement Budget 2022 "prudently," after the bill was approved by the Dewan Rakyat. The spending plan totals MYR332.1bn and is the largest in the country's history.

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