# Standard Chartered places ‘overweight’ forex weightings on ringgit | Borneo Post Online

> Standard Chartered has placed short- and medium-term overweight FX positions on the ringgit, calling it one of the most undervalued emerging market currencies. The bank says foreign positioning is extremely light and onshore sentiment has improved.

- Date: 2017-09-27 · published 2017-09-27T12:00:00.000Z
- Category: macro · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/69218-standard-chartered-places-overweight-forex-weightings-on-ringgit-borneo-post
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md), [Palm Oil](https://feedsoft.ai/c/PALMOIL.md)

## Why it matters

Bullish bank positioning could strengthen the ringgit and make Malaysian dollar-priced commodity purchases such as palm oil cheaper for local buyers. The impact on feed markets is limited.

## Read by commodity

- USDMYR: bearish ▼
- PALMOIL: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| PALMOIL | 2018-08-07 | [Ringgit to remain weaker as US dollar strengthens against most currencies \| Borneo Post Online](https://feedsoft.ai/events/63779-ringgit-to-remain-weaker-as-us-dollar-strengthens-against-most-currencies.md) | +0.0% | +2.6% |
| PALMOIL | 2018-07-31 | [Financial markets face continued non-resident outflows in June — BNM \| Borneo Post Online](https://feedsoft.ai/events/64294-financial-markets-face-continued-non-resident-outflows-in-june-bnm-borneo-post.md) | -1.1% | -0.9% |
| PALMOIL | 2017-12-27 | [Malaysia’s economy strengthens amid taunting factors \| Borneo Post Online](https://feedsoft.ai/events/67751-malaysia-s-economy-strengthens-amid-taunting-factors-borneo-post-online.md) | +5.5% | +4.4% |
| PALMOIL | 2023-03-06 | [MYR/USD: Worst for Malaysia Ringgit Seen Over on China Reopening - Bloomberg](https://feedsoft.ai/events/37148-myr-usd-worst-for-malaysia-ringgit-seen-over-on-china-reopening-bloomberg.md) | -5.6% | -9.0% |
| PALMOIL | 2017-12-30 | [2017 recovery year for ringgit, BNM measures place in check \| Malay Mail](https://feedsoft.ai/events/67746-2017-recovery-year-for-ringgit-bnm-measures-place-in-check-malay-mail.md) | +6.7% | +4.3% |

## Sources

- theborneopost.com: https://www.theborneopost.com/2017/09/28/standard-chartered-places-overweight-forex-weightings-on-ringgit/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.