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USD/MYR has drifted lower as.............>

DOLLAR-MYR
DOLLAR-MYR: USD/MYR has drifted lower as participants assess the state of play
re: coronavirus outbreak and global policy efforts to contain economic fallout
from the epidemic. The rate operates at its worst levels in two weeks, following
yesterday's recovery in risk appetite. At typing, it sits at MYR4.1650, 140 pips
worse off.
- On Wednesday, Malaysia declared further 14 coronavirus cases, bringing their
total number to 50. The gov't said that the results of 180 additional patients
are still awaited.
- Bears look for a sustained drop below the 200-DMA at MYR4.1561, with the next
hurdles on the downside provided by the 50% retracement of the YtD range at
MYR4.1475 & the 100-DMA at MYR4.1444. Bullish focus is on yesterday's high of
MYR4.1952.

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