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Softer

MYR

Spot USD/MYR trades at MYR4.2175 at typing, up 85 pips on the day, seemingly in reaction to hawkish Fedspeak from overnight.

  • Bulls need a clearance of yesterday's high (MYR4.2210) before targeting Mar 29 high of MYR4.2260, followed by Mar 24 high of MYR4.2373. Bears look for a sell-off past Mar 30 low of MYR4.2000.
  • In case someone was still having any doubts about the relations between the main federal coalition partners, UMNO President Zahid has sued Bersatu leader Muhyiddin for defamation over the ex-PM's claim that Zahid had asked for his help in delaying/settling court cases.

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