Malaysian Ringgit Range-Bound vs USD After Strong GDP, Commerzbank Says
Malaysia's stronger-than-expected Q2 GDP growth and low inflation support the central bank's unchanged 2.75% policy rate, keeping USD/MYR in a 4.05–4.10 range, according to Commerzbank.
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Commerzbank analysts Dr. Henry Hao and Moses Lim note that Malaysia’s Q2 GDP growth exceeded expectations while inflation remained subdued. This supports Bank Negara Malaysia’s decision to hold the policy rate at 2.75%.
As a result, USD/MYR has traded within a 4.05–4.10 range. The pair recently edged higher alongside rising crude oil prices.
Source: FXStreet Forex News