OCBC’s Sim Moh Siong and Christopher Wong stress that the Malaysian Ringgit (MYR) remains relatively well supported by a softer US Dollar (USD) and robust domestic fundamentals. July exports surged and the trade surplus widened, underpinned by strong electronics and firmer palm Oil prices, though he cautions that elevated Oil and long-end US Treasury yields may temper the immediate FX impact.
Exports and trade surplus underpin MYR
“MYR remained relatively well supported, helped by the softer USD backdrop and still-favourable domestic fundamentals.”
“Trade data released yesterday saw July exports rose 38.0% YoY, stronger than expected, while the…
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