Credit Suisse sees USD/MYR at 4.10 as Malaysia GDP estimate tops consensus forecast
KUALA LUMPUR (Aug 16): Credit Suisse expects the ringgit to trade at 4.10 against the US dollar “over the next few months”, after estimating Malaysia's 2017 second quarter's (2Q17) gross domestic product (GDP) growth at 6% from a year earlier.
In a note, Credit Suisse said its Malaysia GDP estimate was above consensus estimate at 5.6%.
“Combined with recently high oil prices and improving August trade seasonality, this helps to keep us constructive on the ringgit, targeting 4.10 versus the US dollar over the next few months,” Credit Suisse said.
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