Rules is a 2014 hit for Charli XCX, from the album entitled SUCKER.
Analyst are thus far not impressed by Bank Negara's "weapon" to fight the Ringgit swing on the NDF market, by getting FOREIGN banks to sign 'A I WONT DO IT" note.
Reuters have the reaction story here. Read Below:
Central bank demands commitment from foreign banks that they will stop trading currency in offshore markets
ARRESTING THE FALL
It's not surprising, given how much (the ringgit) has lost. It sounds like a desperate intervention.
NORDEA MARKETS' CHIEF ANALYST AMY YUAN ZHUANG, in Singapore, on the Malaysian central bank's latest move.
The central bank's move "is not surprising, given how much the ringgit has lost recently", said Nordea Markets chief analyst Amy Yuan Zhuang. "It sounds like a desperate intervention."
Bank Negara's comparatively small foreign exchange reserves have left it with fewer options, she said. "It needs such measures more than other Asian central banks."
Mr Stephen Innes, a senior forex trader for broker Oanda in Singapore, said the one-month spread for NDFs was still very wide.
"My feeling is that they are trying to effectively put on a capital control, as direct intervention will be difficult because of the fragile reserves situation," he said.
