USDMYR - Malaysia Ringgit Strengthening

Updated

Ringgit is strengthening, probably due to rising oil price and institutional position.
If 4.18 support does not hold, likely fall to at least to 4.15

Note

While maintaining Overnight Policy Rate (OPC) unchanged at 3%, the central bank said it may consider reviewing the current degree of monetary accommodation.

An unexpected hint about potential removal of accommodative stance sent the Ringgit higher across the board.

Press release:
bnm.gov.my/index.php?ch=en_press&pg=en_press&ac=4540&lang=en

Note

4.16 now

Note

4.13 now, see more downside

Trade closed: target reached

Note

Update:

thebitspace

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