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Ringgit Slips

MYR

Spot USD/MYR has crept higher in the wake of the release of hawkish FOMC minutes on Wednesday. The rate last changes hands at MYR4.1988, 45 pips higher on the day, after hitting a new two-week high.

  • Bulls look to a move through Dec 20 high of MYR4.2300, which would clear the way to Dec 15 high of MYR4.2387. Conversely, a dip through the 200-DMA/Dec 31 low at MYR4.1692/42 would support the bearish case.
  • Malaysian Plantation Min Kamaruddin noted that he will engage in intergovernmental negotiations on the recruitment of foreign workers in domestic oil palm plantations.

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