The US Dollar remains undecided against the Ringgit on Wednesday and is now trading at 4.2970. The sentiment of indecision happens because of a weak macroeconomic agenda this Wednesday. One element that is causing investors’ concern is that inflation in Europe remains high and many investors are waiting for the details of the EU Leaders Summit and the EU Economic Forecasts. Earlier the European Central Bank (ECB) said that the expectation is that the fight against inflation will still take a long time and the interest rate for the Euro could remain high for longer than previously anticipated. All of this adds a level of uncertainty to the markets because it can change the flow of capital around the world. From a technical point of view, USDMYR could move up to 4.3650 where it should find a resistance region.
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© 2019 High Leverage FX - All Rights Reserved.