Fed signals and geopolitics to steer direction
Performance: As projected, the MYR held steady between 4.22–4.23/USD as the USD index stayed firm in the 98.2–98.6 range.
Market Dynamics: Despite the lack of clarity from last week’s US–Russia meeting, markets remain hopeful of progress towards peace. Still, the absence of a concrete ceasefire roadmap at Trump’s Ukraine summit tempered sentiment. Investors remain confident that the Fed will deliver two cuts this year, supporting demand for emerging-market assets. July’s FOMC minutes failed to shift the USD narrative, while the US–EU trade deal reduced uncertainty.
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