MIDF Research anticipates the Malaysian ringgit to strengthen against the US dollar, averaging RM4.23 by the end of 2025. The research arm attributes this expectation to a gradual unwinding of US monetary policy and continued trade surpluses. Despite potential risks, MIDF maintains an outlook for normalized economic growth at 4.6% in 2025.
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"Although the unwinding of the US monetary policy will be slower than previously expected and interest rate differential spreads may continue to remain wide, the narrowing later in the year will still favour the emerging market currencies including the ringgit,” it said. "The dollar's performance last month was largely driven by shifts in market expectations regarding the US monetary policy trajectory, compounded by the policy uncertainty surrounding the newly formed US government,” it said.
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