HALISTER1: INSIDE MALAYSIA: Ringgit Up, Heading for Best Quarter Since 1973

INSIDE MALAYSIA: Ringgit Up, Heading for Best Quarter Since 1973

(Bloomberg) -- Ringgit advances for fourth day, heading for 6.9% gain in March and 9.2% rise for the quarter; options expiring today include 4.0000 strikes for $425m.
  • Brent crude futures slip 0.6% to $39.04/bbl
  • Five-year credit-protection costs for Malaysia dropped 7 bps to 151 bps yesterday, according to CMA New York data
  • Worst for ringgit is probably over, but there is near-term upside risk for USD/MYR on possibility of dollar rebound as Fed rate hike expectations are repriced, ANZ writes in note received today
  • Ringgit advances 0.2% to 3.9317 per dollar
  • USD/MYR approaching 3.9000, 61.8% Fibonacci retracement of rally from May low to Sept. high; click here for chart
  • USD/MYR 1-month NDF rising 0.3% to 3.9243; below 10-DMA at 3.9971
  • Yield on 3.955% govt bond due Sept. 2025 closed down 2 bps at 3.840% yesterday
  • President of 1MDB says his job is done
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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