# USD/MYR: Major support comes in at 4.1200 – UOB — Octa

> UOB Group analyst Quek Ser Leang sees USD/MYR at risk of further decline, with the next support at 4.1200 and a near-term target of 4.1350. A break above 4.1660 would signal the ringgit weakness has stabilised, following a drop to 4.1410 on September 1.

- Date: 2021-09-06 · published 2021-09-06T12:00:00.000Z
- Category: macro · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/45321-usd-myr-major-support-comes-in-at-4-1200-uob-octa
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md)

## Why it matters

A stronger ringgit would lower the local-currency cost of dollar-priced imports for Malaysia but could make Malaysian palm oil more expensive in dollar terms for export buyers.

## Read by commodity

- USDMYR: bearish ▼

## Sources

- octaafrica.net: https://www.octaafrica.net/markets/news/view/922785/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.