Mitsubishi UFJ Financial Group senior FX strategist Lloyd Chan said in a report the Malaysian Ringgit should remain supported near term after Bank Negara encouraged government-linked companies to repatriate offshore earnings and convert them into Ringgit. Chan said upside versus the dollar is likely limited because expectations of higher-for-longer US interest rates continue to underpin the dollar, a shift from 2024 when markets priced Fed cuts, so external headwinds may persist despite domestic

Mitsubishi UFJ Financial Group senior FX strategist Lloyd Chan said in a report the Malaysian Ringgit should remain supported near term after Bank Negara encouraged government-linked companies to repatriate offshore earnings and convert them into Ringgit. Chan said upside versus the dollar is likely limited because expectations of higher-for-longer US interest rates continue to underpin the dollar, a shift from 2024 when markets priced Fed cuts, so external headwinds may persist despite domestic policy support.