Malaysian Ringgit weakening considerably

Ringgit has weakened considerably in the last few weeks on the back of deteriorating trade balance and increase in political noises. 

This weakness is expected to have more legs, driven mostly by a decline in exports; as such, we recommend staying short Ringgit. 

With FX implied volatility still high, the topside RKOs make sense here, as USD/MYR may not blow out in the next few months, expects Bank of America.