SPI Asset Management managing director Stephen Innes says Malaysian markets are viewing Prime Minister Anwar Ibrahim as market-friendly. – The Malaysian Insight file pic, November 25, 2022.
At 6pm, the local note further strengthened to 4.4795/4890 against the US dollar from yesterday’s close of 4.4910/5000. SPI Asset Management managing director Stephen Innes said the US Federal Reserve is expected to decelerate from the 75 basis points hiking pace to 50 basis points in December, in line with projections.
“Fading concerns over renewed restrictions would lift all Malaysian assets. So, that is favourable for the ringgit next year … it is clear we have reached peak Fed hawkishness , which is good for Asian currencies,’’ he told Bernama.
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