Poised to benefit from safe-haven rotation and rising Fed rate cut bets
Performance: The ringgit once again outperformed expectation, strengthening below the 4.40/USD mark. A cocktail of rising US growth concerns and waning confidence in the USD kept the DXY below 100.0.
Market Dynamics: The ringgit strengthened to 4.37/USD on Monday, as investors rotated into safe-haven alternatives amid growing unease over US assets. Trump's criticism of the Fed added to the USD's credibility crisis. Gains briefly eased to 4.39/USD on signs of US-China trade de-escalation but rebounded after Beijing denied any negotiations, contradicting Trump’s claim.
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