USDMYR Rises on Renewed US-Iran Tensions, Risk Aversion

OCBC analysts highlight that the Malaysian ringgit (MYR) is under pressure against the US dollar due to a combination of geopolitical and risk factors. Renewed tensions between the United States and Iran have fueled risk-off sentiment globally, which typically supports the safe-haven greenback.

This depreciation comes even as Malaysia reported stronger-than-expected GDP figures and saw improved foreign equity inflows — factors that would normally buoy the ringgit. The external risk environment, however, has overridden these domestic positives, leaving MYR vulnerable to further downside if risk appetite remains subdued.