Over the years of RM crisis in 2016 and 2017. Be it of any reasons i continued to stress that RM fair value is minimum at RM 3.80 vs USD 1. With a 180 degree changed of all analyst views. RM become firmer and looking further height.
I personally view RM can have legs and RM 3.60 is a new target to challenge its fair value. If economy strengthen and perhaps RM 3.30 is not unachievable. Moving away from just rely on oil for budget will be key area that i can improve.
I did not buy nor sell futures. But we have sold most of our foreign equities and bought back RM valued equities in 2016/2017.
At RM 3.80 and below, we may start to reinvest into overseas assets. We are bullish in RM not because of its trend and sentiment but it’s fair value has long been misguided.