Ringgit continues downtrend against greenback | The Malaysian Insight

Ringgit continues downtrend against greenback

Markey analysts are predicting a 25-basis-point rise in the US inflation rate, following the release of the consumer price index tomorrow. – The Malaysian Insight file pic, April 11, 2023.

SPI Asset Management managing director Stephen Innes said US yields opened higher this morning but had eased as the day wore on but that still weighed on the ringgit nonetheless, although the local currency managed to pare its losses. “I think the ringgit foreign exchange market will remain somewhat defensive ahead of the US consumer price index to be released tomorrow,” he said.

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