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USD/MYR rises as US-Iran tensions lift risk-off demand
OCBC cited renewed US-Iran tensions as a key driver, lifting defensive USD demand even as Malaysia reported stronger 2Q26 GDP and improved foreign equity flows.
OCBC said USD/MYR has edged higher, attributing the move to renewed geopolitical tensions between the US and Iran that pushed investors into broader risk-off positioning.
The bank noted the late-week selling pressure in the pair appeared driven more by external sentiment than Malaysian fundamentals, pointing to stronger-than-expected 2Q26 GDP and improving foreign equity flows.
OCBC added that policy support after Bank Negara Malaysia, which held rates, has been fading, and it expects USD/MYR to remain supported if geopolitical risks stay elevated.
FXStreet reported that spot USD/MYR closed around 4.0970, with bearish momentum on the daily chart showing signs of waning as the RSI rose.