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USD/MYR - Breaking to Fresh Lows

MYR
  • USD/MYR was strong at market opening this morning up 0.43% to 4.3255 following prior nights close of 4.3443. Downside targets are likely to rest at 4.3000.
  • USD/MYR is breaking to fresh lows, positives are ongoing strength in the equity market and further evidence that inflows from offshore investors remains robust. The local equity index is tracking at fresh highs back to 2020.
  • To add, news this morning of potential reforms around bringing back consumption tax may also be adding to the positive sentiment in markets.

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