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USD/MYR Consolidating Above 4.65

MYR

USD/MYR prints at 4.6515/40, the pair is a touch lower on Wednesday

  • The pair sits a touch off its highest level since mid-July as August's gains are consolidated in a narrow range above the 4.65 handle. We sit ~3.2% above the opening levels from Aug 1.
  • Bulls target the high from 26 June (4.6915), a break through here opens the high from Nov 4 2022 (4.7495). Bears first target the 20-Day EMA (4.61033).
  • The latest Foreign Reserves data from Aug 15 showed a downtick to $112.2bn from $112.9bn.
  • July CPI crosses on Friday, a downtick in inflation to 2.1% Y/Y from 2.4% is expected.

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