1905 ET – The Malaysia ringgit, like the South Korean won, has been rallying of late on prospects of a rate-hike cycle starting there as well. But the currency has also been undervalued relative to highflying regional peers, contends Oanda’s Stephen Innes. The ringgit is at 14-month highs versus the dollar, nearly MYR4.00. “With the BoK set to raise interest rates as the domestic economy continues to soar, expect the MYR to ride any buoyant won sentiment,” he adds.
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Stephen has over 25 years of experience in the financial markets and currently based in Singapore as the Head of Trading Asia Pacific with OANDA. Stephen's market views focus on the movement of G-10 and ASEAN Currencies. His views appear in Bloomberg, CNBC.Reuters, New York Times WSJ and the Economist. His media appearances include Bloomberg TV & Radio, BBC International, Sky TV, Channel News Asia, ASTRO AWANI and BFM Malaysia. Stephen has an extensive trading experience in Spot and Forward FX, Currency and Interest Rate Futures, Money Market Derivatives and Precious Metals. Before joining OANDA, he worked with organisations like Nat West, Chemical Bank, Garvin Guy Butler, and Sumitomo Mitsui Banking Corporation. Stephen was born in Glasgow, Scotland, and holds a Degree in Economics from the University of Western Ontario.