Ends 2025 firm and better than expected; stability holds as markets await US signals
Performance: The ringgit strengthened to around 4.04/USD before easing on technical correction, ending the year at 4.06/USD, slightly outpacing our 4.08/USD year-end target.
Market Dynamics: After reaching its strongest level since February 2021 on 24 December, the ringgit softened to around 4.06/USD on Monday as investors took profits. It later rebounded towards 4.04/USD before ending the year at 4.06/USD, following a rebound in DXY. The move reflected hawkish FOMC minutes, which signalled caution over early rate cuts next year
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