The GBP to MYR exchange rate is currently range-bound.
Key drivers include the interest rate differential, with the Bank of England projected to cut rates while the Federal Reserve may do so at a slower pace. This could widen the gap favoring the MYR. Additionally, Malaysia's positive economic growth outlook and improved fiscal position support the MYR. Inflation trends in the UK foreshadow potential struggles for the GBP, especially as economic growth slows.
The near-term trading range for the GBP to MYR is expected to remain stable, reflecting recent price data indicating the GBP is at 30-day lows. What could change this outlook includes a stronger-than-expected recovery in the UK economy, potentially bolstering the GBP, while a reversal in global oil prices or ongoing trade tensions could exert downward pressure on the MYR.