SINGAPORE: After going from last to first in Asia, the Malaysian ringgit may be headed for a break -- before resuming its rally. Momentum indicators, including slow stochastics, show the ringgit is overbought. Last year there were quite a number of issues affecting Malaysia.”The ringgit has dropped for three straight days after surging to a 15-month high on Monday. Overseas investors bought almost US$2bil of Malaysia’s sovereign debt in September, the biggest inflow in four months. “That’s why we’ve seen a late surge in Malaysian assets.” - Bloomberg

Source: The Star December 07, 2017 03:56 UTC