Ringgit outlook steadies as USD/MYR rises from RM3.8895 to RM4.1377 by June 24
AI Market Summary
USD/MYR has weakened from February's low as USD strength was reinforced by the Fed's reduced forward guidance and a more hawkish tone, widening perceived rate-path uncertainty. Offsetting this, Malaysia's fundamentals look supportive: a larger current-account surplus (~3% of GDP), strong E&E export growth, and AI/data-center-linked investment and inflows into bonds. Near-term FX pricing may remain driven by US rates and risk sentiment.
Impact level
● Medium
AI InsightAI Insight
● Neutral
⚠️ AI-generated insights are based on news content and are provided for informational purposes only. They do not constitute investment advice or represent the views of BingX. Investing involves risk. Please trade responsibly.
The ringgit has weakened as the US dollar strengthened, with USD/MYR rising from a late-February low of RM3.8895 to RM4.1377 on June 24, amid uncertainty over the Federal Reserve’s policy path under new chairman Kevin Maxwell Warsh. Malaysia’s fundamentals have provided support, including a current account surplus that widened to 3% of GDP and a 70.5% year-on-year jump in electrical and electronics exports in May, alongside AI data-centre investment. Several institutions have kept their year-end USD/MYR targets in the RM3.95–RM4 range.
