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Ringgit Softer In Early Dealing, CPI On Tap

MYR

The Ringgit is softer in early trade as it continues to trim its post US CPI gains.

  • USD/MYR prints at 4.5730/65 and is ~0.3% firmer in early dealing today. The pair sits ~1.4% above July to date lows.
  • Bulls target a break of the low from 13 July (4.6237) which opens the 20-Day EMA (4.6002). Bears first target the 200-Day EMA (4.4999).
  • Today June CPI crosses, a fall to 2.4% Y/Y from 2.8% is expected. Also due today is July 14 Foreign Reserves. The docket is empty for the remainder of the week.

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