The Malaysian ringgit weakened against the US dollar on Monday, primarily due to the latest tariff imposition by the United States on Canada, Mexico, and China. Despite the trade tensions, there are signs of a potential de-escalation, including China's pledge not to devalue its yuan. The market awaits further developments and reactions from the US Federal Reserve.
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Most notable was Beijing’s plans to not devalue the yuan, a move that is meant as a peace offering to Washington given the longstanding US perception of China as a currency manipulator, he said. "The prospect of a quicker rollback of tariffs is offering some support, but volatility remains elevated,” Innes told Bernama.
"Markets will be watching for any further escalation, a potential diplomatic breakthrough, or even an unexpected shift in tone from Washington,” Innes said.
Ringgit US Dollar Tariffs Trade War US Federal Reserve
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