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USD/MYR Holding At August Highs, GDP Due Tomorrow

MYR

USD/MYR is holding at August highs, as of yet on Thursday the pair has been unable to follow through on an early breach of month to date highs .

  • Broader greenback trends continue to dominate flows, as higher US Tsy Yields weigh on the Ringgit.
  • Bulls now target a break of the low from 12 July (4.6465) which opens the high from 26 June (4.6915). Bears first target the 20-Day EMA (4.5901).
  • A reminder that tomorrow Q2 GDP and July Trade Balance are due. GDP is forecasted at 1.1% Q/Q for Q2.

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