The US Dollar rallied against the Ringgit on Thursday and is now trading at 4.2280. After the announcement of the Initial Jobless Claims data by the US, the Dollar continues to gain strength against its counterparts. Market analysts are forecasting a possible increase of 0.75% in the USD interest rate in 2022 and the market has already started pricing this possible increase. Even though it was a public holiday in the US, the market remained open around the world. From Malaysia’s side, the Consumer Price Index (CPI) data may give a good indication of direction for the USDMYR this Friday. If the reading comes lower than expected, it could cause the USDMYR to accelerate the movement to touch the 4.2400 region.
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© 2019 High Leverage FX - All Rights Reserved.