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USD/MYR opened lower this morning, as....>

DOLLAR-MYR
DOLLAR-MYR: USD/MYR opened lower this morning, as risk appetite remains
positive. The rate has moved away from worst levels, but still operates in
negative territory, last -113 pips at MYR4.2675.
- Monday's data showed that Malaysia's unemployment rate surged to 5% in April,
the highest level since at least 1990, as the number of unemployed people surged
49% Y/Y to 778,800 individuals.
- Elsewhere, Malaysian Health Min said that off'ls expect an increase in
domestic dengue cases from early June until September.
- The rate probed the water below its 100-DMA (MYR4.2668) and hovers just above
that level. A clean break of the 100-DMA would shift focus to Jun 11 low of
MYR4.2360. Meanwhile, bulls look to retake Jun 12 high/23.6% retracement of the
Mar 23 - Jun 11 slide at MYR4.2853/63 before targeting the 50-DMA at MYR4.3301.
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