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Ringgit Weakens Even As Malaysia Pledges Efforts To Avoid Lockdown

MYR

Spot USD/MYR has extended gains this morning and last changes hands +25 pips at MYR4.2165. A clearance of Dec 20 high of MYR4.2300 would bring Dec 15 high of MYR4.2387 into play. On the flip side, bears need a retreat under Dec 31 low of MYR4.1642 to gain some fresh momentum.

  • Health Min Khairy said in a briefing that Malaysia will avoid re-imposing a lockdown as much as possible and plans to widen Covid-19 vaccine roll-out to younger children. The government has also temporarily banned all religious pilgrimage to Saudi Arabia effective Saturday, after it was deemed a major source of imported Omicron cases.
  • The BNM will provide an update on foreign reserves today. Looking further afield, Malaysia's industrial output/sales data will hit the wires on Monday.
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