The Malaysian ringgit is expected to appreciate to the 4.15 area vs. the greenback at the beginning of the next year, according to FX Strategists at UOB Group. Key Quotes “USD/MYR grinded lower across July from 4.29 to 4.25, reflecting a broad USD decline and also encouraging signs that activity is picking up locally.” “Bank Negara Malaysia delivered another 25 bps rate cut in July, bringing the benchmark interest rate to a record low of 1.75% to provide additional policy stimulus to accelerate the pace of economic recovery.” “With the worst of Malaysia’s economic woes probably over in the 2Q, the steady pace of recovery of its economy and the MYR is likely to solidify in the coming quarters. We update our USD/MYR forecasts to 4.20 in 3Q20, 4.18 in 4Q20, and 4.15 in 1Q21 and 2Q21.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Ethereum Technical Analysis: ETH/USD gets rejected from $400 again FX Street 2 years The Malaysian ringgit is expected to appreciate to the 4.15 area vs. the greenback at the beginning of the next year, according to FX Strategists at UOB Group. Key Quotes “USD/MYR grinded lower across July from 4.29 to 4.25, reflecting a broad USD decline and also encouraging signs that activity is picking up locally.” “Bank Negara Malaysia delivered another 25 bps rate cut in July, bringing the benchmark interest rate to a record low of 1.75% to provide additional policy stimulus to accelerate the pace of economic recovery.” “With the worst of Malaysia’s economic woes probably over in the 2Q,… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
