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OCBC upgrades KRW and MYR outlook versus the US dollar

OCBC attributed the firmer KRW view to stronger domestic fundamentals and exporter flows, while it cited resilient growth and supportive external balances for MYR.

Reported · Written up by our desk · EM Currencies

OCBC strategists Sim Moh Siong and Christopher Wong recalibrated their Asian FX forecasts to a slightly firmer profile versus the US dollar, with the biggest upgrades focused on the Korean won and Malaysian ringgit.

In their view, the KRW update reflects firmer domestic and flow dynamics, including improved exporter flows and reduced concerns around capital outflows.

For MYR, OCBC pointed to resilient fundamentals and supportive external balances, along with fading political noise and earlier steps intended to encourage FX inflows.

The note also framed the revisions as a response to developments over recent weeks and shifts in underlying FX drivers, with the changes described as modest overall except for KRW and MYR.

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