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USD/MYR has added 45 pips and last.......>

DOLLAR-MYR
DOLLAR-MYR: USD/MYR has added 45 pips and last trades at MYR4.2828. A move
through Jun 17 high of MYR4.2902 would give bulls the green light for targeting
the 50-DMA at MYR4.3263. Conversely, a retreat below the 100-DMA at MYR4.2734
would draw attention to the 50% retracement of the Jan 20 - Mar 23 bull mkt at
MYR4.2502. Below there would open Jun 11 low of MYR4.2360, a key near-term
support.
- Domestic political matters are garnering more attention, as it remains unclear
whether PM Muhyiddin commands the support of the majority of lawmakers.
Parliament is set to reconvene on Jul 13 and the opposition may try to unseat
Muhyiddin. A vote of no confidence was previously scheduled for May 18, but got
delayed by the Speaker.
- Elsewhere, a snr Malaysian health off'l said that the recovery rate among the
nation's Covid-19 patients is 93.8% as of now.
- Looking ahead, Malaysian CPI data will be published next Wednesday.

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