US dollar strengthens as investors look for safe haven currencies.
KUALA LUMPUR: The ringgit opened lower against the US dollar today as the greenback strengthened on renewed interest in safe haven currencies in light of the crisis in the Middle East, an analyst said.
“While it remains to be seen whether the military conflict can be resolved in the near term, concerns over crude oil prices is something that markets are anxious about.. whether it will create a shock in a tightly controlled market, what this would mean to inflation and subsequently how major central banks such as the US Federal Reserve would respond,” he told Bernama.
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