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USD/MYR Analysis Today - 29/08: Fresh Lows Hit (Chart)
(MENAFN- Daily Forex) The USD/MYR remains one of the most interesting currency pairs to trade for day traders who are interested in looking at speculative assets which doesn't get a lot of attention.
- The USD/MYR is around the 4.3230 ratio as of this writing.
- The currency pair has achieved a fresh low today and it is now challenging values last seen in January of 2023.
- On the 15th of July this year the USD/MYR was near the 4.6860 mark, on the 15th of April the currency pair was around the 4.7810 vicinity.
- The decline in the USD/MYR has been strong as it has gone from apex highs back into the middle ground technically of its long term price realm.
- Also USD/MYR speculators need to be aware that a U.S holiday will be celebrated on Monday, meaning volumes in Forex will start to thin on Friday and cause some choppiness in the USD/MYR following the weekend.
- If U.S GDP numbers are weaker today it could provide selling impetus for the USD/MYR, but if results are stronger than expected the currency pair could reverse higher.
- However, if the USD/MYR sustains its lower value range going into the weekend this will be a solid sign for the Malaysian Ringgit and bearishness in the USD/MYR.

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