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USD/MYR Firms Above 4.70

MYR

USD/MYR has risen in early dealing and now sits back above the 4.70 handle, broader USD flows are dominating this morning.

  • The pair is ~0.2% higher and last prints at 4.7010/40.
  • Bulls target the high from 4 Nov 2022 (4.7495). Bears first target the 20-Day EMA (4.6815).
  • Malaysia's S&P Global Mfg PMI fell in September to 46.8, this is the lowest reading since January 2023 and the measure still remains in contractionary mode.
  • Looking ahead the docket is thin for the remainder of the week with just September month end Foreign Reserves due on Friday.

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