KUALA LUMPUR: Standard Chartered Bank has placed an “overweight” foreign exchange (FX) weightings on the ringgit, saying the currency was among the most undervalued emerging market currencies. In its Global Research 4Q 2017 report, the bank also said that the overall positioning for the currency among foreign investors remained extremely light. “More importantly, the ringgit sentiment onshore has improved with better US dollar supply dynamics. “We have short- and medium-term ‘overweight’ foreign exchange (FX) weightings on the ringgit,” it said. Standard Chartered said the ringgit's onshore FX turnover was well off its late 2015 lows.

Source: New Strait Times September 27, 2017 03:33 UTC