US jobs data to set breakout path for ringgit
Performance: The ringgit eased slightly, trading near 4.23/USD this week, as the DXY climbed above 98.0.
Market Dynamics: Last Friday’s federal appeals court ruling against Donald Trump’s universal tariffs carried weight, but markets barely stirred, likely due to uncertainty over its impact. Instead, the DXY rose on mounting debt concerns abroad, prompting some unwinding of USD longs. We doubt this strength will last ahead of crucial data releases and the Fed’s expected easing.
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