The Malaysian ringgit (MYR) is expected to trade sideways, hovering closely within a range of RM3.95 to RM3.97 against the US dollar. The currency market is currently caught between conflicting macroeconomic cues, which is capping any major breakouts for the ringgit.
Ringgit – Sideways
Market participants are closely monitoring external factors, including interest rate expectations and geopolitical developments, which continue to influence currency performance. The US dollar remains relatively strong due to its safe-haven status. Despite short-term volatility, economists remain cautiously optimistic about the ringgit’s outlook, supported by Malaysia’s economic fundamentals. However, external pressures are expected to persist in the near term.
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