<div class=newsTextDataWrapInner><p>SINGAPORE (Jan 8): Ringgit strengthens to fresh 16-month highs as oil prices and Asian stocks continue to advance.</p></div>

<div class=newsTextDataWrapInner><p>* Combination of USD weakness and firming oil prices appears to have been enough to break psychological support in USD/MYR, Stephen Innes, head of trading for Asia Pacific at Oanda, writes in note</p></div>

<div class=newsTextDataWrapInner><p>** While MYR should continue to strengthen on a “benevolent” Fed outlook and rallying energy prices, market has most likely sufficiently priced in a BNM January rate hike, so pace of appreciation may slow</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>** Profit taking expected to set in ahead of this month’s rate decision</p></div>

<div class=newsTextDataWrapInner><p>* NOTE: Bank Negara Malaysia due to decide on policy rate on Jan. 25</p></div>

<div class=newsTextDataWrapInner><p>* USD/MYR declines as much as 0.3% to 3.9873, lowest since August 2016</p></div>

<div class=newsTextDataWrapInner><p>** The pair slid 1.2% last week, the most since the period ended Sept. 8</p></div>

<div class=newsTextDataWrapInner><p>** 14-day RSI drops to 15, deep in over-extended territory</p></div>

<div class=newsTextDataWrapInner><p>** MSCI Asia Pacific excluding Japan Index gains 0.2% following a 3.1% weekly jump</p></div>

<div class=newsTextDataWrapInner><p>** WTI crude futures up 0.3%</p></div>

<div class=newsTextDataWrapInner><p>* Malaysia will suspend export duties on crude palm oil for three months to combat price drop, according to Plantation Industries and Commodities Minister Mah Siew Keong * Opposition Pakatan Harapan names Mahathir as candidate for prime minister</p></div>

SINGAPORE (Jan 8): Ringgit strengthens to fresh 16-month highs as oil prices and Asian stocks continue to advance.

* Combination of USD weakness and firming oil prices appears to have been enough to break psychological support in USD/MYR, Stephen Innes, head of trading for Asia Pacific ...

Ringgit at 16-month high on oil, Asian stocks

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