AUD bearish against RM but we are nibbling

The continuous weakness on AUD against RM due to improve speculation that BNM may raise OPR further before year end. Vice versa, Australia economy have mixed pictures with pressure on its central bank to keep rate on hold. We expect AUD weakness to continue with a potential break to below RM 2.80 vs. AUD 1.00 However, we take this opportunity to buy further as we are confident AUD has plenty of legs.

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