High US bond yields, inflation fears weighing the ringgit down, says analyst.
KUALA LUMPUR: The ringgit continued its downtrend against the greenback today amid concerns over the higher-for-longer US interest rate outlook, said an analyst.
Ten-year US Treasury yields hit a fresh 15-year high yesterday but made a pullback today, going down five basis points to 4.501%. “A risk-off certainly dominating the ringgit now,” he said, adding that the resistance level currently stood at RM4.74.
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