Ringgit slips as markets weigh US ‘economic D‑Day’ threat and Jackson Hole risks
KUALA LUMPUR, Aug 24 — The ringgit ended lower against the greenback today as the threat of an “economic D-D...
On August 24, the Malaysian ringgit declined against the US dollar amid apprehensions over an "economic D-Day" threat to Iran and uncertainties surrounding the upcoming Jackson Hole symposium. At the close of the trading day, the ringgit traded at 4.0405/0440 against the greenback, marking a slight drop from last Friday's close of 4.0365/0405.
Stephen Innes, a global strategist at Quintex Intel, explained that the ringgit's performance today was cautious consolidation rather than a significant downward trend. The primary concerns driving the ringgit's decline include the looming threat of sweeping secondary sanctions against Iran, policy risks leading up to the Jackson Hole symposium, and the ongoing instability in the US Treasury market.
These factors have prompted caution among market participants, who remain uncertain about the extent of the US Treasury Secretary Scott Bessent's upcoming "economic D-Day" sanctions against Iran.
Written by urgent.news from Malay Mail's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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