A Mitsubishi UFJ Bank analyst said the Malaysian ringgit should remain supported in the near term, but its gains against the U.S. dollar may be limited as expectations for higher U.S. interest rates continue to underpin the dollar.
According to Jin10, Mitsubishi UFJ Bank senior FX analyst Lloyd Chan wrote in a report that the ringgit strengthened after Malaysia’s central bank encouraged government-linked companies to repatriate overseas earnings and convert them into the local currency.
Chan said the current market backdrop differs from 2024, when markets expected U.S. rate cuts. He noted that expectations have since shifted toward U.S. interest rates staying higher for longer.
He added that despite domestic policy support, external pressure on the ringgit may persist.
Mitsubishi UFJ: Malaysian Ringgit Gains May Be Limited Despite Policy Support
2026-06-26 09:57:18
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