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USD/MYR operates -157 pips at............>

DOLLAR-MYR: USD/MYR operates -157 pips at MYR4.2645 at typing. Malaysian PM
Muhyiddin will unveil a short-term stimulus package at 15:00 local time. His
appearance will be aired on local TV channels.
- Meanwhile, Muhyiddin has got some other things on his mind now as Malaysia is
getting closer to plunging into political turmoil again. The PM sacked a couple
of allies of his predecessor Mahathir from top party positions, while a Dep
Works Min loyal to Mahathir quit the cabinet. It remains unclear whether
Muhyiddin's gov't still commands the majority of seats in parliament.
- Losses past the 100-DMA at MYR4.2550, Jun 3 low/50% retracement of the Jan 20
- Mar 24 bull mkt at MYR4.2505/02 & Mar 27 low of MYR4.2470 would reinstate
broader bearish momentum. On the flip side, a jump above Jun 4 high of MYR4.2802
would turn focus to Apr 30 low of MYR4.2890.
- Malaysia reports its foreign reserves later today. Looking further afield,
local industrial output & m'fing sales value is due Thursday.

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