The US Dollar rises +0.4% against the Ringgit this Monday and is now trading at 4.7290. The upward movement is due to the market beginning to see inflation rising again in the USA and many experts are already starting to talk about new interest rate increases by the Federal Reserve (FED) in the coming meetings. Another element that causes the USD to appreciate against the MYR is the war that started in recent days between Hamas and Israel. In times of uncertainty, many investors prefer to seek shelter in safer assets, such as the Dollar. Investors should pay attention to the release of Producer Price Index (PPI) data for the USD on Wednesday, as this indicator measures inflation from the producer’s perspective. The PPI tends to have a somewhat slow effect, but it ends up predicting how consumer inflation will behave in the future. From a technical perspective, as USDMYR managed to break out of the resistance region at 4.6800, it is possible that it could rise to the all-time high at 4.7450 over the next few days.
USD/MYR Technical Analysis
