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USD/MYR Consolidating Recent Gains

MYR

USD/MYR prints at 4.6485/4.6515, the pair is little changed from Friday's closing levels in a muted start to today's dealing.

  • The pair sits a touch off its highest level since mid-July as August's gains are consolidated in a narrow range on Monday. USD/MYR is up ~3.3% in August.
  • 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 (4.6016).
  • July CPI headlines this week, a downtick to 2.1% Y/Y is forecast. Also on the wires is Aug 15 Foreign Reserves which crosses tomorrow.

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