Malaysian Ringgit: Supported by strong fundamentals against US Dollar – OCBC
OCBC’s Sim Moh Siong and Christopher Wong stress that the Malaysian Ringgit (MYR) remains relatively well supported by a softer US Dollar (USD) and robust domestic fundamentals.
The Malaysian Ringgit (MYR) has been bolstered by solid domestic fundamentals and a weaker US Dollar (USD), according to OCBC analysts Sim Moh Siong and Christopher Wong. In July, exports surged by 38.0% year-over-year, with the trade surplus expanding to MYR22.5 billion, reflecting resilient growth following a strong second quarter of 2026 GDP print.
Although oil prices and long-term US Treasury yields remain elevated, the country's external position appears to be supported by the continuing strength in electronics exports and higher palm oil prices. The analysts believe the MYR is well-positioned in the region, particularly if the broader USD pullback continues. As of the close, USD/MYR was trading at 4.0450, with resistance at 4.0610 and support at 4.0320.
Written by urgent.news from FXStreet's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
