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Ringgit Weakest Since Late May

MYR

The Ringgit printed its weakest level since 26 May this morning before marginally paring losses. USD/MYR sits at 4.6230/60 up ~0.1% marginally paring gains after printing a high of 4.6283.

  • Technically the uptrend remains in place, bulls now target the high from 26 May at 4.6398. Bears first look to break the 20-Day EMA (4.5812) to turn the tide.
  • Palm Oil Futures have trimmed some of yesterdays losses, currently up ~0.3%. The contract remains well within the monthly range, and last prints at MYR3,365.00.
  • A reminder that the domestic data calendar is empty for the remainder of the week.

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