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USD/MYR Prints Fresh YTD High, Exports Fall In August

MYR

USD/MYR continues to tick higher in narrow ranges, the pair printed a fresh YTD high yesterday before marginally paring gains. We now sit ~4% above levels seen in early August.

  • The pair is a touch below opening levels this morning, last printing at 4.6920/60.
  • Bulls target the high from 11 Nov 2022 (4.7025), a break through here opens the high from Nov 4 2022 (4.7495). Bears first target the 20-Day EMA (4.6676).
  • Yesterday's August trade data showed that Exports fell by more than expected in the month. The trade surplus was a touch narrower than forecast.
  • The next data of note is Friday's August CPI print a rise of 2.0% Y/Y is expected.

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