Thursday, March 8, 2018

FW: [Maybank] SGDMYR – Upside Risk on Monetary Policy Divergence

 

 

SGDMYR – Upside Risk on Monetary Policy Divergence

FX Tech Flash
by Saktiandi Supaat

FX Research

While BNM is expected to remain on hold (our house view) for the rest of 2018, MAS on the other hand, could normalise monetary policy with a shift to a "slight appreciation stance" at its next meeting in Apr (our house view). This could present some monetary policy divergence between MAS and BNM and could point to upside risk for SGDMYR. Interim upside risks for SGDMYR, possibly towards 2.98, 3 levels in the lead up to MAS meeting. Bias remains to fade the move.

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