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2025-09-19 10:32:11
The Malaysian ringgit is expected to remain stable as the Fed's policy shift puts pressure on the dollar. Economists at Kenanga said in a report that the Malaysian ringgit is likely to trade in a range of 4.15 to 4.20 ringgit per dollar in the near term as the Federal Reserve has clearly shifted to an accommodative stance. They expect the Fed to make two more 25 basis point rate cuts this year, which will further pressure the already weak dollar. The market will focus on weak labor market data to support expectations of further Fed easing. They noted that the focus is on the core personal consumption expenditure price index, a stronger reading could weaken hopes for a near-term rate cut. Investors will also monitor housing data for signs of a slowdown that could affect the Fed's easing pace. They project the USD/MYR exchange rate to close at 4.08 by the end of 2025. They added that in the short term, resistance is seen at 4.21 ringgit, while support is seen at 4.19 ringgit. The USD/MYR exchange rate rose 0.3% to 4.2080 ringgit.
