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USD/MYR Edges Away From Cycle Lows

MYR

Spot USD/MYR staged its first foray under the MYR4.0000 mark on Monday, but trimmed losses later in the day as the greenback regained poise. It has continued to creep higher this morning and last trades at MYR4.0140, 85 pips better off.

  • Malaysian Science and Technology Min Khairy Jamaluddin will hold a presser on the country's Covid-19 vaccine procurement.
  • Bulls look for a move through channel resistance at MYR4.0459 before taking aim at Dec 23 high of MYR4.0673. On the downside, a fall through Jan 4 low of MYR3.9957 would clear the way to channel support at MYR3.9840.
  • Friday's update on foreign reserves will conclude Malaysia's data releases for this week.

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