USD/MYR has strengthened past............>

DOLLAR-MYR: USD/MYR has strengthened past yesterday's high and is currently

hitting its best levels since Nov 2017. The ringgit has traded on a softer note

alongside the broader Asian EM basket as a growing concern over the global

spread of Covid-19 remains. The recent round of risk-off flows has been noted as

South Korea's case count rose past 1,000. In combination with Malaysia's

domestic political turmoil, fear of the epidemic pushed USD/MYR through a key

resistance from the Sep 3 multi-year high yesterday.

- Malaysia remains mired in a political crisis as PM Mahathir scrambles to form

a new gov't after the ruling coalition broke down. The King will gauge sentiment

among 132 MPs today in a second round of interviews with lawmakers.

- USD/MYR trades +57 pips at MYR4.2395, with bulls looking at a series of highs

from Oct-Nov 2017 in the MYR4.2437-40 area as their next target. Bears need a

retreat under the Sep 3 high of MYR4.2297 to expose MYR4.2000, the Feb 24 low.

- There are no more local data releases slated during the remainder of this

week, but next week the focus turns to a monetary policy decision from the BNM &

Malaysia's trade data for the month of January.