Malaysian Ringgit has improved from its March 23 low of Rm4.4455 to 1US$ to today's exchange rate of Rm4.2705 to 1US$. Looking at the monthly USD/MYR chart below, a 'triple-top' or 'head and shoulders' with the 'head' protruding slightly above the left and right 'shoulders' was completed. Very likely the wave (iii) of C has started. The US Federal Reserve's monetary policy to support a post COVID-19 economic recovery by keeping rate at near-zero and by unlimited 'Quantitative Easing' QE4. Is the USD collapsing? Is Malaysian Ringgit heading for Rm2.50 to 1USD?
The unlimited printing of US$ will very soon increase the total assets of the Federal Reserve to $9 trillion in its balance sheet by 2021. In 2008 it was less than $1 trillion.
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