The US Dollar rose against the Ringgit on Thursday and is now trading at 4.3935. The bullish move comes after the announcement that Finland and Sweden have filed the official petition to become a member of NATO, and this causes concern to investors because Russia had previously said that it would not accept NATO on its borders. From a macroeconomic point of view, another element that made the USD gain strength was the release of Building Permits data, which brought a higher-than-expected reading. From a technical point of view, the USDMYR finds itself in an important resistance region on the daily chart. A pullback could bring the USDMYR down to 4.3050.
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© 2019 High Leverage FX - All Rights Reserved.