KUALA LUMPUR, March 8 — The ringgit gave up its gains in the last two days to close sharply lower against the greenback today after hawkish talk on the American interest rate...
KUALA LUMPUR, March 8 — The ringgit gave up its gains in the last two days to close sharply lower against the greenback today after hawkish talk on the American interest rate outlook from US Federal Reserve chairman Jerome Powell.
"It is highly likely that the same tone will emerge, ie, the monetary policy stand is going to be restrictive,” he told Bernama. ", the OPR is not normally set to address currency market imbalances, therefore, the movement of the ringgit would be determined by market forces. We see no change in the OPR tomorrow. Hence, all eyes will be on the Fed chairman statement and the key data points to be announced later in the week,” he added.
"This was the worst possible outcome for the ringgit as higher US short-term yields not only lend support to the US dollar, but those higher yields are starting to look more attractive for long-term investors who still view Asia as a risky proposition,” he said.
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.
Kuala Lumpur has highest depression, anxiety rates | The Malaysian InsightCity folk suffering financial, relationship problems, says health minister.
Read more »
Azalina: 6,047 residents in Kuala Lumpur considered poor according to e-Kasih dataKUALA LUMPUR, March 8 — Law Minister Datuk Seri Azalina Othman Said today said that 6,047 residents in the Federal Territory of Kuala Lumpur last year were categorised as poor...
Read more »
Kuala Lumpur, Putrajaya have highest depression, anxiety rates | The Malaysian InsightCity folk suffering financial, relationship problems, says health minister.
Read more »
Taiwanese singer-actor Crowd Lu to stage concert in Kuala Lumpur on May 27KUALA LUMPUR, March 8 — Taiwanese singer, composer and actor Crowd Lu will be joining the long list of celebrities set to perform here in the next two months. The 37-year-old,...
Read more »
Ringgit falls to 4.52 against greenback after hawkish talk from Fed chairmanKUALA LUMPUR: The ringgit gave up its gains in the last two days to close sharply lower against the greenback today after hawkish talk on the American interest rate outlook from US Federal Reserve (Fed) chairman Jerome Powell.
Read more »
Ringgit falls against greenback after hawkish talk from Fed chairmanRinggit hurt by prospect of higher US interest rates after Jerome Powell’s hawkish statement.
Read more »