Eyes stability amid USD resilience and domestic optimism
The ringgit outperformed expectations, reversing course to strengthen below the 4.50 threshold as the USD index (DXY) softened last Friday after a lower-than-expected core PCE reading. On Monday, the DXY rebounded, stabilising above 108.0 after the US averted a government shutdown. USD strength was further supported by the EUR's continued weakness, driven by weak eurozone’s economic prospects and the ECB's dovish stance. Despite these pressures, the ringgit held steady within the 4.47– 4.49/USD range, bolstered by Bursa Malaysia’s uptrend from yearend window-dressing and domestic economy optimism.
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