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USD/MYR Falls On Greenback Sell-Off, Local Trade Figures Eyed

DOLLAR-MYR

USD/MYR has retreated to its lowest levels since Jun 11, spot last deals
-60 pips at MYR4.2460. Persistent USD sales have taken some weight off the
pair, with local focus falling on domestic trade data, due later today.

  • Worth noting that today Malaysia's High Court will issue its ruling in a
    case against ex-PM Najib Razak related to the 1MDB scandal.
  • Bears see Jun 11 low of MYR4.2360 as their initial target and a fall through
    that level would draw attention to the 200-DMA, coming in at MYR4.2258.
    Bulls need to reclaim Jul 24 high of MYR4.2665 before targeting Jul 17 high
    of MYR4.2725.
  • Malaysia's data docket is empty during the remainder of this week.

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