StanChart maintains its relative outperformance view of the ringgit within the regional forex complex.
PETALING JAYA: The weaker US inflation and labour market data is leading to a repricing of rate cuts in the United States, which is providing a favourable backdrop for emerging market (EM) currencies like the ringgit.
Following the softer inflation data for June in the United States, currency analysts said the foreign exchange (forex) markets are now pricing in an interest rate cut by the US Federal Reserve (Fed) by September, which helped the ringgit to strengthen by some 400 points against the greenback this trading week to 4.667 at close yesterday – a six-month high.
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