The US Dollar falls -0.27% against the Ringgit this Monday and is now trading at 4.7220. The downward movement comes after the release of Malaysia’s Consumer Price Index (CPI) data for the month of February, which came in higher than expected (1.8% actual against 1.5% forecast). This is the first time since September 2022 that inflation in Malaysia has been higher than the previous reading and therefore the MYR appreciates against the USD. From a technical point of view, USDMYR has just touched a resistance region at 4.7400 and as the price managed to break below 4.7300, it is possible that it could fall towards the 4.6750 level in the coming days. On the other hand, if the price manages to break above 4.7400, it could rise to the 4.7900 region, where it will meet the USDMYR’s all-time high region.
© 2019 High Leverage FX - All Rights Reserved.
© 2019 High Leverage FX - All Rights Reserved.