The Malaysian ringgit depreciated against the US dollar on Monday as the US economy exhibited further signs of improvement, boosting demand for the greenback. Analysts attribute the ringgit's weakness to expectations of a hawkish US interest rate outlook this year. The ringgit is projected to remain under pressure until more clarity emerges regarding US economic policies under President Donald Trump's second term.
KUALA LUMPUR: The ringgit continued its downtrend to close lower against the US dollar on Monday as the American economy showed further signs of recovery, spurring demand for the greenback.
Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid noted that the ringgit has continued to depreciate against the greenback as the US economy continues to show improvement, cementing a hawkish US interest rate outlook this year.
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