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Ringgit Sees Fresh 12-Week Low In Play

MYR

Spot USD/MYR has eased off a fresh 12-week high printed this morning and last changes hands +30 pips at MYR4.1885, as the initial impulse generated by the renomination of Fed Chair Powell has moderated somewhat.

  • Bulls need a clearance of Sep 30 high of MYR4.1970 to gain some momentum. Conversely, a pullback under Nov 15 low of MYR4.1580 would allow bears to regain poise.
  • Malaysia's CPI data will hit the wires on Friday and consensus looks for a pick-up in headline inflation to +2.8% Y/Y from +2.2%.

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