Near-term ringgit peg change unlikely

"In the short term the general election is a distraction that must be got out of the way," said Simon Flint, senior strategist at Bank of America in Singapore. "You can’t possibly consider a major change like ringgit regime change while you’re fighting at the polls."

"In the event of a review [of the peg], a change…would likely come only after the elections," added Irene Cheung, Asian sovereign and FX strategist at ABN Amro in Singapore. Although she stressed that the conditions outlined by