Steadies as Hormuz risk offsets soft US inflation
Performance: MYR traded broadly unchanged around 4.07- 4.08/USD as softer US inflation offset USD geopolitical support.
Market Dynamics: Fresh US strikes on Iran and renewed Strait of Hormuz risks pushed oil prices higher, lifting the USD. The ringgit briefly weakened before stabilising around 4.07-4.08/USD as softer US CPI and PPI pared dollar gains. Easing inflation reduced near-term Fed tightening expectations but did not remove hawkish risks entirely. Investors stayed cautious, with geopolitical uncertainty continuing to support defensive USD positioning.
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