Market sentiment may continue to remain cautious today, says analyst.
KUALA LUMPUR: The ringgit continued to weaken against the US dollar as the 10-year US Treasury yield rose to 4.91%, which is the highest since 2007, suggesting that inflation premium is on the rise, said an analyst.
“The US President’s unequivocal support for Israel could potentially prolong the conflict and under such circumstances, the US dollar is likely to be the main beneficiary, given its safe haven status,” he told Bernama.At 9am, the local currency traded easier at 4.7615/4.7650 against the greenback from yesterday’s close of 4.7445/4.7485.
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