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Ringgit Softer In Early Trade, Data Docket Light This Week

MYR

The Ringgit has opened dealing on Monday softer as geopolitical tensions in the Middle East weigh on risk sentiment. Broader USD trends are dominated as safe havens strengthen this morning.

  • USD/MYR is up ~0.2%, last printing at 4.7210/40.
  • A reminder that on Friday Foreign Reserves for Sep 29 printed at $110.1bn ticking lower from the prior read of $111.5bn.
  • Technically the uptrend in USD/MYR remains in place, bulls target a break of the YTD high (4.7397) this opens 4.7973 a Fibonacci projection.
  • The data docket is light this week, August Industrial Production is the only data of note and is due on Thursday.

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