MYR Primed For Further Gains

BMI View: The Malaysian ringgit hit a more than nine-year high of MYR3.4420/US$ on April 10, having surged through major resistance at MYR3.4900/US$ in late March. The unit continues to look strong, and appears to have entered a higher trading range. The rebound in the Kuala Lumpur Stock Exchange (KLSE) equity index after February's sharp correction has been supportive.

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