Investors foresee the Federal Reserve’s hawkishness to continue driving the forex market.
KUALA LUMPUR: The ringgit continued to trade on the back foot today, opening lower against the US dollar following a better-than-expected US ISM manufacturing index.
SPI Asset Management managing partner Stephen Innes told Bernama that the US dollar traded slightly stronger into the weekend and the market foresees the Fed’s hawkishness to continue driving the forex market. “On this score, the ringgit is expected to remain weak as investors prefer to hold the greenback in view of the positive carry,” he added.
Meanwhile, the ringgit was traded higher versus a basket of major currencies except for the Japanese yen, where it fell to 3.1507/3.1543 from 3.1492/3.1524 at yesterday’s close.
Italia Ultime Notizie, Italia Notizie
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