Ringgit, Singapore dollar hit hard as Trump election win boosts US dollar

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Ringgit, Singapore dollar hit hard as Trump election win boosts US dollar
RinggitSingapore DollarDonald Trump
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SINGAPORE, Nov 6 — Singapore’s dollar and Thailand’s baht fell the most among Asian currencies today, while the Mexican peso hit a two-year low as the dollar rallied on...

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Thailand’s baht slumped 1.3 per cent to a two-month low, while the South Korean won also fell as much as 1.5 per cent to its lowest since mid-April. Analysts view Trump’s proposed tariff and immigration policies as inflationary, and are therefore likely to put upward pressure on inflation, bond yields and the dollar, and undermine the currencies of trading partners.

MUFG analysts feel the South Korean won, Singapore dollar, Thai baht and Malaysian ringgit will be hit harder by a potential Trump win, because of their export orientation and sensitivity to a potential slowdown in China’s growth.

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