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USDMYR United States Dollar vs Malaysian Ringgit

4.737
0.004 (0.08%)
Last Updated: 00:03:48
Delayed by 15 minutes
Name Symbol Market Type
United States Dollar vs Malaysian Ringgit FX:USDMYR Forex Exchange Rate
  Price Change % Change Price Bid Price Offer Price High Price Low Price Open Price Traded Last Trade
  0.004 0.08% 4.737 4.7345 4.7395 4.737 4.737 4.737 0 00:03:48

Swiss Franc Falls On Rising Risk Appetite

30/08/2016 3:01am

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US Dollar vs MYR (FX:USDMYR)
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The Swiss franc weakened against the other major currencies in the Asian session on Tuesday amid rising risk appetite, following the positive lead overnight from Wall Street and rising commodity prices.

Expectations that Japan as well as other major economies will continue with their monetary easing, also supported the investor sentiment.

Meanwhile, investors remain cautious ahead of the release of U.S. non-farm payrolls data on Friday, which could further shed light on the timeline for a U.S. interest rate increase.

A report from the Commerce Department showed that income and spending rose in line with economist estimates in the month of July. The personal income climbed by 0.4 percent in July after rising by 0.3 percent in June. The increase in income matched economist estimates.

The personal spending rose by 0.3 percent in July following a 0.5 percent increase in June. The spending growth also met expectations.

Monday, the Swiss franc showed mixed trading against its major rivals. While the Swiss franc fell against the U.S. dollar, it rose against the yen. Meanwhile, the franc held steady against the euro and the pound.

In the Asian trading, the Swiss franc fell to 4-day lows of 1.0958 against the euro and 104.03 against the yen, from yesterday's closing of 1.0944 and 104.16, respectively. If the Swiss franc extends its downtrend, it is likely to find support around 1.10 against the euro and 102.00 against the yen.

Against the U.S. dollar, the Swiss franc dropped to nearly a 3-week low of 0.9808 from yesterday's closing value of 0.9781. On the downside, 0.99 is seen as the next support level for the franc.

The franc edged down to 1.2835 against the pound, from yesterday's closing value of 1.2817. The franc is likely to find support around the 1.30 area.

Looking ahead, the German import price index for July is due to be released at 2:00 am ET.

Swiss KOF leading indicator for August, U.K. mortgage approvals for July, and Eurozone business climate index for August, are slated for release later in the day.

In the New York session, flash German CPI data for August, Canada industrial product and raw materials price indexes for July, U.S. S&P/Case-Shiller home price index for June and U.S. consumer confidence index for August, are set to be published.

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