On hold as August PCE and September payrolls tests whether the Fed is truly done
Performance: MYR closed Thursday at 4.086/USD from 4.082 last Friday, as hawkish Fedspeak kept the USD bid.
Market Dynamics: Hawkish remarks from Fed members Goolsbee, Musalem and Barkin revived bets on a further Fed hike this year. Barkin warned that one hike may not be enough. US front-end yields held firm even as Brent briefly slipped below USD100.0/bbl, Strong PMIs and rebounding oil lifted DXY above 101.0. The dollar's resilience to softer oil shows that Fed pricing, not energy, now drives USD demand. Firm USD momentum and weak risk appetite kept investors from rebuilding ringgit longs.
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