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Ringgit Regains Poise


Spot USD/MYR has eased off a multi-month high of MYR4.2200 registered Tuesday and last trades at MYR4.2137, down 35 pips on the day. This brings Mar 17 low of MYR4.1823 into play, rendering this level a key initial bearish target. Bulls look to a break above MYR4.2200 before targeting Dec 20 high of MYR4.2300.

  • Malaysia's Home Minister Zainudin noted that while the Cabinet is determined to implement the anti-party hopping bill, there is a need for further studies into the matter before moving forward with legislative work.
  • Consensus forecasts points to a potential uptick in headline CPI to +2.4% Y/Y in February from +2.3% in the preceding month. The data will be out on Friday.

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