Ringgit owes its surge to forces well beyond US dollar’s weakness

PHOTO: EPA[SINGAPORE] The Malaysian ringgit’s relentless rally is being driven by a range of structural factors beyond the US dollar’s broad weakness, suggesting its gains will likely be sustained. The ringgit can “absolutely” sustain its outperformance in emerging Asia in the first half, he said. The latter two factors combined exerted far less influence on the Malaysian currency than on Thailand’s baht, the Singapore dollar and the Philippine peso, it shows. DECODING ASIA Navigate Asia ina new global order Get the insights delivered to your inbox. A return of global funds to Malaysian stocks also augurs well for the ringgit.