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Softer Start For Ringgit

MYR

Spot USD/MYR has added 50 pips thus far and last trades at MYR4.2005, not too far from yesterday's 20-day high. A clearance of Jan 7 high of MYR4.2175 would represent a notable bullish development, shifting focus to Dec 15/Nov 26 highs of MYR4.2387/4.2490. Bears need a dip through Jan 21 low of MYR4.1820 before taking aim at Jan 13 low of MYR4.1720.

  • Malaysia's December trade data will hit the wires later today. Consensus looks for an expansion in trade surplus to MYR22.25bn from MYR18.90bn amid moderation in both imports and exports growth.

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