Wednesday, November 11, 2026

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FxWirePro: High beta currencies react to ECB's dovish steer, MYR extends gains for 2nd session

Malaysian ringgit spiked on Friday as global risky assets rallied after ECB opened doors for more stimulus as early as December USD/MYR open at 4.2530 today, traded a 4.21-4.27 range so far and was last trading at 4.2263…

By Jay L. Zagorsky
1 min read
EconoTimes — Reading the Times. Understanding the Future.

  • Malaysian ringgit spiked on Friday as global risky assets rallied after ECB opened doors for more stimulus as early as December

  • USD/MYR open at 4.2530 today, traded a 4.21-4.27 range so far and was last trading at 4.2263 at the time of writing

  • Pair is down 1.3% from yesterdays Asian close as high beta currencies reacted to dovish Draghi

  • Data earlier showed that Malaysia's inflation came in much lower than expected in Sept, CPI rose 2.6% y/y (poll 3.0%, prior 3.1% for Aug)

  • Daily price action has dipped into the cloud, breaks below 200 DMA at 4.2016 could see correction to 4.1100

  • On the upside next immediate hurdle is located at 4.2698 (20 DMA) ahead of 4.2780 (daily Kijun) 

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By FxWirePro Team