Ringgit is most attractive EM FX on Deutsche Bank’s scorecard

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BANGKOK (Aug 10): Malaysia’s ringgit is the most attractive among 22 emerging-market currencies on the basis of a number of fundamentals and technical factors that are typically seen as important drivers, according to Deutsche Bank note received Thursday.

* MYR benefits from attractive RSI, high real rates and favorable flows scores; although MYR came in as the most attractive overall, the currency was ranked fourth for macro and third for technical and does not come in top for any individual variables

** For the downside, the Southeast Asian nation’s currency was among the most sensitive to external shocks

* ILS came in as the second most attractive with mixture of “very favorable” and “very weak” individual rankings; it came in top for the most attractive for sensitivity to external shocks and bond positioning 

* PEN is ranked the third; it gets very favorable macro score and is ranked in the middle of the pack for technicals; the currency is at the top for growth momentum and strong rankings for real rates and momentum

* KRW, COP and PHP are at the bottom of the rankings on the co.’s scorecard