THB-MYR-SGD trio strengthens against USD since beginning 2017. Philippine Peso weakest amongst major ASEAN currencies. Indonesian Rupiah looks ‘pegged’ to USD. Malaysian Ringgit weakening against SGD temporarily over.
Malaysian Ringgit is very weak even against ASEAN currencies. There is a danger that investors must watch especially when USD is strengthening while the RMB is weakening further.
9 Asian currency pairs that are rising in favour of US Dollar strengthening. They are tradable thru Axitrader MT4 or on the Singapore Exchange (futures).
1. USDMYR at Asian Financial Crisis level. 2. Ringgit ranked 6th constituent in RMB index. Ringgit lost half its value to USD since 2011. USDMYR now at 4.3115.
PBOC’s Yuan devaluation is 2 years late. Despite big hooha, PBOC has maintained a very stable exchange rate with the greenback. Biggest culprit is Japan.