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USD/MYR Downside Bias Maintained, CPI Out Later

MYR
  • The MYR strengthened to 4.3790 against the US dollar into Wednesday’s close compared with 4.3815 at the close on Tuesday. Early Thursday dealings saw the pair test 4.3500 but we sit higher now, last at 4.3705, which is still fresh lows back to early 2023 for the pair.
  • The Bloomberg Asian dollar index is up 0.10% in Asia morning trade.
  • USD/MYR one-month implied volatility is at 6.2850%, up from 6.1975% yesterday.
  • Today’s key data release for Malaysia will be CPI which the market expects to rise marginally for July to 2.1% (from 2.0% in June).
  • Malaysian Bond 10-year bond yields are flat in the morning session at 3.736%.
  • Yesterday Malaysia sold MYR4 billion ($914 million) of Islamic bonds due July 9, 2029 on Aug. 21. Investors offered to buy 3.68 times the amount offered.
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