Sunday, August 4, 2013
RM to weaken to 3.27 against US dollar
Lee Chen Hoay, Investment Analyst of Phillip Futures, Singapore talks about the recent Fitch's rating downgrade of Malaysia.
He also discusses:
- whether S&P and Moody’s would follow suit
- fiscal consolidation and budgetary reform required, says Fitch for outlook to be revised back to stable - we have UMNO general assembly, Budget 2014 in October - reform likely?
- yen perceived as safe haven ahead of ECB, BOE meetings, Abenomics at work - forecast for yen
- challenges ahead of Aussie Dollar, with China slowdown - long boom in mining investment is over - how low will AUD go before RBA stops talking the currency down?
- Thai parliament meets next week, with key bills up for discussion. Thailand could benefit from resurgence in Japan as well - estimates for baht?
- which currency pairs he's bullish on