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Ringgit Regains Poise

MYR

Spot USD/MYR has shed 57 pips so far and last operates at MYR4.2010, with bears looking for a deeper sell-off past Mar 10/4 lows of MYR4.1750/30. On the topside, focus falls on yesterday's peak at MYR4.2115 and a break here would open up Jan 7 high of MYR4.2175.

  • PM Ismail Sabri's UMNO party holds a meeting of its general assembly tonight after emerging victorious from last weekend's election to Johor state legislature. Delegates may discuss the next general election, as the choir of voices within UMNO calling for a snap poll grows louder. Those in favour of such a scenario are emboldened by UMNO's rather spectacular showing in recent regional polls, but Premier Ismail Sabri is believed to be sceptical.
  • Looking ahead, Malaysia's monthly trade data will be published on Friday.

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