The Malaysian ringgit depreciated against the US dollar to 4.5005/5050 at 6 pm despite a milder-than-expected US Consumer Price Index print. Forex traders are debating the possibility of rate cuts by the US Federal Reserve this year. Stephen Innes, managing partner at SPI Asset Management, said uncertainty surrounding potential Donald Trump tariffs on China and his policy stance is keeping the market volatile.
At 6 pm, the ringgit depreciated to 4.5005/5050 against the greenback from Wednesday’s close of 4.4970/5010.
"Although bond and stock markets have recovered, the spillover to the forex market has been relatively weak. Innes said the overarching question casting a shadow over the markets is whether Trump would embody the"Deal Maker in Chief” or revert to his"Tariff Man” persona.
RINGGIT US DOLLAR INFLATION FOREX TARIFFS
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