Ringgit ends lower versus greenback amid higher US inflation data

Malaysia News News

Ringgit ends lower versus greenback amid higher US inflation data
Malaysia Latest News,Malaysia Headlines
  • 📰 staronline
  • ⏱ Reading Time:
  • 36 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 18%
  • Publisher: 75%

The actress tied the knot with Hyun at an intimate, star-studded private ceremony in Seoul on March 31, 2022.

KUALA LUMPUR: The ringgit ended lower against the US dollar as the greenback strengthened further, trading at a multi-month high after yesterday’s economic data pointing that a United States inflation was nudging higher, undoing June rate-cut predictions, said an analyst.

SPI Asset Management managing director Stephen Innes said the ringgit weakened in line with broader moves in Asia FX and the G-10 space following improved ISM manufacturing data in the US, which bolstered dollar interest rate differentials to their most favourable levels this year. "This development reduced the odds of a June Federal Reserve rate cut from 70 per cent to 55 per cent, which was bullish for the US dollar,” he told Bernama.

Despite the soaring oil prices, commodity currencies like the ringgit found little joy as the US dollar regained strength, and given the US is one of the largest oil producers globally, higher oil prices also benefited the US dollar, he pointed out.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

staronline /  🏆 4. in MY

Malaysia Latest News, Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Ringgit stays lower against US dollar ahead of Fed rate decisionRinggit stays lower against US dollar ahead of Fed rate decisionKUALA LUMPUR, March 19 — The ringgit continued its downtrend today to end lower against the greenback for the third consecutive day ahead of a decision on US interest rates...
Read more »

Ringgit slightly lower against US$Ringgit slightly lower against US$Check out these beautiful flower fields around the world that you can visit throughout the seasons
Read more »

Ringgit ends lower amid stronger greenbackRinggit ends lower amid stronger greenbackIn March, Airbnb announced that, starting April 30, the company would ban the use of surveillance cameras in its rentals. The news was welcomed by those concerned about privacy.
Read more »

Ringgit opens lower ahead of Fed meeting this weekRinggit opens lower ahead of Fed meeting this weekTime spares no one, not even film legends such as Hong Kong action star Jackie Chan.
Read more »

Ringgit opens lower against US dollar on lack of buying interestRinggit opens lower against US dollar on lack of buying interestKUALA LUMPUR, March 19 ― The ringgit opened lower against the US dollar today due to the lack of buying interest, as cautious sentiments surrounding the Bank of Japan’s...
Read more »

Market caution drives ringgit lower with low buying interestMarket caution drives ringgit lower with low buying interestKuala Lumpur: The ringgit opened lower against the US dollar today due to the lack of buying interest, as cautious sentiments surrounding the Bank of Japan’s (BOJ) monetary policy decision continued to prevail.
Read more »



Render Time: 2025-02-19 17:04:29