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USD/MYR slid and last changes hands......>

DOLLAR-MYR
DOLLAR-MYR: USD/MYR slid and last changes hands -217 pips at MYR4.3247 as USD
has been offered across the board. Malaysia's Markit M'fing PMI came in at 45.6
vs. the previous reading of 31.3.
- Malaysia's top statistician said in a report published on Friday that the
country is headed for recession, which should be observed in four to six months.
- Elsewhere, Malaysia and Singapore delayed a joint railway project until the
year-end. The new railway would connect Singapore with Kuala Lumpur.
- The rate sank through its 50-DMA Friday and has continued to lose altitude
today, marking a convincing break of that moving average. Bears look for a
further slide through the round figure/Apr 30 low at MYR4.3000/4.2890. Bulls
look for a rebound above May 22 high of MYR4.3667 before attempting a move at
May 18 high of MYR4.3725.
- Malaysia's trade balance is due on Thursday.

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