To hold steady with downside bias amid US policy uncertainty
Performance: The ringgit strengthened to around 4.49/USD on Monday, supported by robust external trade data. The USD Index (DXY) came under pressure as Trump’s Day 1 failed to deliver immediate universal tariffs, triggering a positioning squeeze. However, threats of tariffs on Mexico and Canada stabilise the USD's decline. The combination of USD weakness, Malaysia’s stable CPI, and BNM's unchanged policy boosted the ringgit to 4.44/USD.
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