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USD/MYR Firms Back Above 4.3300, As Broader USD Sentiment Stabilizes

MYR
  • USD/MYR is tracking higher in early Monday dealings, last 4.3340, versus the Friday's close of 4.3205.
  • This likely reflects catch up to USD gains post the onshore close from Friday. Broader USD sentiment has stabilized amid resilient data outcomes/higher US yields.
  • USD/MYR one-month implied volatility is up this morning to 6.2375%, versus 6.13750% on Friday.
  • Malaysia's 10-year bond yield are 1.5bp higher in yield at 3.778% from Friday’s close.
  • Malaysia 5 yr USD CDS at 38bps (Friday’s close 38bp, 5-year low 32bp in 2020).

Headlines

  • Malaysia’s PMI Manufacturing Contracting Shouldn’t Budge the BNM this week.
  • S&P Global Malaysia’s August PMI was unchanged at 49.7 from July, the third month of contraction.

Government Bond Auction

Friday: Malaysia to Sold MYR2bn Billion T-Bills at 3.103% with bid to cover of 3.05x

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