Ringgit slides against euro, yen and pound as greenback gains momentum
KUALA LUMPUR, Sept 15 — The ringgit ended lower against the US dollar on Tuesday as investors remained cautious ah...
The Malaysian ringgit weakened against the US dollar, euro, yen, and pound during Tuesday's trading session as cautious investors awaited the conclusion of the two-day US Federal Open Market Committee (FOMC) meeting. By 6pm, the local currency fell to 4.0835/0880 against the greenback, down from Monday's close of 4.0735/0770. Analysts cited a 92.3% probability of a US rate hike this week, according to data from CME FedWatch.
This market expectation saw the US Dollar Index (DXY) rise by 0.25% to 99.641 points, while the 10-year US Treasury note yield surpassed the 5.00% level. Other Asian currencies, including the Indonesian rupiah, Thai baht, and Singapore dollar, also weakened against the US dollar. The ringgit also declined against the euro, yen, and British pound, while its performance against ASEAN currencies such as the Singapore dollar and Thai baht followed a similar downward trend.
Written by urgent.news from Malay Mail's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
