Our call for MYR strength since 2 weeks ago remains intact. Given improved investors’ sentiment, well-mana

GBL: MYR – Maintain Positive Outlook but Exercise Caution

FX Flash by Saktiandi Supaat

FX Research

Our call for MYR strength since 2 weeks ago remains intact. Given improved investors’ sentiment, well-managed expectation for Fed rate hike and MYR being fundamentally and historically undervalued, we see scope for Ringgit to play catch up with regional peers and extend its gains. We do however caution for short term rebound risks for USDMYR and SGDMYR due to May seasonality trend and the one-sided move in the past 2 weeks.