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Risk aversion stemming from..............>

DOLLAR-MYR
DOLLAR-MYR: Risk aversion stemming from aforementioned factors has pushed
USD/Asia higher and USD/MYR has ridden that trend. Softening oil prices have
applied additional pressure to the ringgit.
- PM Muhyiddin said Friday that nearly all businesses will be allowed to reopen
today, as the gov't is trying to shore up the economy. However, the weekend saw
some Malaysian sates declare that they will not fully relax lockdown measures at
the start to the week. 
- USD/MYR last trades +375 pips at MYR4.3398. The rate has erased Thursday's
losses and bears look for a break above Apr 28 high of MYR4.3733, which would
expose Apr 22 high of MYR4.4032. Conversely, losses past the 50-DMA at MYR4.3153
and Apr 30 low of MYR4.2890 would put bears back in the driving seat.
- Malaysia's trade balance comes out at the top of the hour, with the BNM due to
deliver its MonPol decision tomorrow. Industrial output and manufacturing sales
hit the wires on Thursday.

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