BEIJING: China will work with United States on the basis of mutual respect, it said on Wednesday (Nov 6) as Donald Trump closed in on victory in the presidential election, but strategists said Beijing was bracing for bitter superpower rivalry over trade, technology and security issues.
KUALA LUMPUR: The ringgit closed lower against the US dollar today, snapping two days of gains, as the US presidential election results poured in, said an economist.
"The immediate uncertainty is how the Federal Reserve would respond to the latest information -- for example, the election results -- although the actual policy changes or revisions would take sometime to materialise. "For now, a high degree of uncertainty would mean demand for the US dollar and therefore, we will see the ringgit remain guarded,” he added.
"What initially looked like a tight race has now turned into a near landslide, with Trump set to secure over 300 electoral votes -- a resounding endorsement of his policy vision. Fortunately, markets had prepared for this outcome,” he said.
Ringgit US Dollar US Presidential Election Mohd Afzanizam Abdul Rashid Stephen Innes
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