Free Trial

USD/MYR Pares Losses

DOLLAR-MYR

USD/MYR showed at its worst levels since March early on, but has pared
losses and currently sits at MYR4.2425, 5 pips worse off. The spot has
been driven by USD gyrations, as it played catch up to yesterday's
greenback weakness before recovering alongside the dollar.

  • Malaysian PM Muhyiddin said yesterday that the gov't will extend a loan
    moratorium for citizens who lost their jobs in 2020 by three months.
  • Downside focus falls on the 200-DMA at MYR4.2264, a breach of that
    level would open up Mar 10 low of MYR4.2232. Bulls need a jump
    above Jul 24 high of MYR4.2665 to gain some impetus.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.