Earlier in the session The Us Dollar rose against the Ringgit to later fall again and is now trading at 4.4550. The data from the Consumer Price Index, which measures inflation, yielded a reading well below expectations (8.5% real versus 8.7% forecast). This shows that the US economy is recovering faster than expected. It also signals that the interest rate hike by the Fed is having the desired effect to control inflation. From a macroeconomic point of view, it is possible that the next FOMC meetings will bring a milder increase in the interest rate. From a technical point of view, if USDMYR breaks below 4.4470, it could drop as low as 4.3650 in a few days.
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© 2019 High Leverage FX - All Rights Reserved.