Ringgit surges to breach RM2.99 level against yen

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Ringgit surges to breach RM2.99 level against yen
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Actors F. Murray Abraham and Stephen Fry also voiced their support and blasted the documentary, 'Spacey Unmasked'.

KUALA LUMPUR: The ringgit breached the RM2.99 level against the Japanese yen last seen in June 2015 in early trade on Tuesday.

Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid told Bernama that the sizeable interest rate differentials with Japan’s rate may have given an advantage to the ringgit. Meanwhile, UOB Kay Hian Wealth Advisors head of investment research Mohd Sedek Jantan said on Monday that Japanese policymakers said they would buy fewer government bonds, which could indicate a shift in approach.

The Japanese currency endured a prolonged fall, hurting domestic consumption amid higher import costs.

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