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Spot USD/MYR has edged lower in early trade, following yesterday's sell-off in the greenback. The rate last deals -23 pips at MYR4.0460, with bears looking for further losses past Dec 18 low of MYR4.0310. Below there opens the psychological MYR4.0000 figure. Bulls look for a jump above the nearby channel top at MYR4.0550 before targeting Dec 23 high of MYR4.0673.
- In local news, Malaysian Finance Ministry extended the exemption of vehicle sales tax to Jun 30, 2021 from Dec 31, 2020. The exemption was initially implemented to help the automotive sector amid the Covid-19 pandemic.
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