Ringgit slips to 4.42 versus US dollar, lowest since March 2020

Ringgit slips to 4.42 versus US dollar, lowest since March 2020

KUALA LUMPUR, June 14 — The ringgit extends its downtrend to open lower against the stronger US dollar today amid cautious sentiment over potential rate hikes in the US,…

Tuesday, 14 Jun 2022 10:37 MYTKUALA LUMPUR, 14 June — The ringgit extends its downtrend to open lower against a stronger US dollar today amid cautious sentiment over potential interest rate hikes in the US, as well as the Federal Reserve (Fed) latest quarterly forecast, a dealer said.

At 9 am, the local currency slipped to 4.4220/4245 versus the greenback from yesterday’s close of 4.4170/4185. Islamic Bank chief economist Dr Mohd Afzanizam Abdul Rashid said the US Dollar Index (DXY) rose to 105.078 points, its highest since 2002. said the US dollar remained a highly sought-after currency since last Friday after May’s consumer price index (CPI) was higher than expected. expected.

Read more: Malay Letters »

The customer is the ‘king’, the deputy minister reminded after the restaurant owner’s viral video

NEW JOHOR:: Deputy Minister of Domestic Trade and Consumer Affairs Datuk Rosol Wahid said the outburst of anger of the Melaka restaurant owner, which was captured on a 51-second video by a recent customer, should not have happened. Read More >>

The ringgit closes lower against the US dollarKUALA LUMPUR, June 13 — The ringgit extended its downward trend from last Friday to end lower against the US dollar today in line with most other regional currencies, as more…

Ringgit opens lower against US dollar on cautious sentimentKUALA LUMPUR, June 13 — The ringgit opened lower against the US dollar today as the greenback continues to strengthen amid cautious sentiment ahead of the…

Ringgit opens lower against greenback on potential US rate hikeKUALA LUMPUR (June 14): The ringgit extends its downtrend to open lower against a stronger US dollar today amid cautious sentiment over potential rate hikes in the US, as well as the Federal Reserve’s (Fed) latest quarterly forecast, a dealer said . At 9 am, the local currency slipped to 4.4220/4245 versus the greenback from Monday’s close of 4.4170/4185. Islamic Bank chief economist Dr Mohd Afzanizam Abdul Rashid said the US Dollar Index (DXY) rose to 105.078 points, its highest since

The ringgit ends lower against the US dollarKUALA LUMPUR: The ringgit extended its downtrend from last Friday to end lower against the US dollar today in line with most other regional currencies, as more investors turn to safe-haven assets, a dealer said.

Ringgit opens lower against greenback on potential US rate hikeKUALA LUMPUR: The ringgit extended its downtrend to open lower against the stronger US dollar today amid cautious sentiment over potential rate hikes in the US, as well as the Federal Reserve’s (Fed) latest quarterly forecast, a dealer said.

Dollar rises to 135 as US yields edge higherHONG KONG, June 13 — The yen fell to a fresh 20-year low against the dollar today, as hot U.S. inflation data boosted Treasury yields, easing a boost gained from…

for the latest news you need to know. Tuesday, 14 Jun 2022 10:37 MYT KUALA LUMPUR, 14 June — The ringgit extends its downtrend to open lower against a stronger US dollar today amid cautious sentiment over potential rate hikes in the US, as well as the Federal Reserve (Fed ) the latest quarterly forecast, a dealer said. At 9 am, the local currency slipped to 4.4220/4245 versus the greenback from yesterday’s close of 4.4170/4185. Islamic Bank Chief Economist Dr Mohd Afzanizam Abdul Rashid said the US Dollar Index (DXY) rose to 105.078 points, its highest since 2002. He said the US dollar remained the most sought-after currency since last Friday after the May consumer price index (CPI). came in higher than expected. “Economic projections made during the Fed’s March meeting saw the Fed Funds Rate forecast for 2022 revised from 0.9 percent to 1.9 percent. “For 2023, the benchmark interest rate forecast will be at 2.8 percent from the previous estimate of 1.6 percent and similarly, for 2024, the Fed Funds Rate projection will be at 2.8 percent from 2.1 percent previously,” he told Named. Mohd Afzanizam said in a certain way, the neutral rate – the level that is neither contraction nor expansionary – lies within 2.5 percent to 3.0 percent. “We believe the Fed is not looking to contract economic activity but rather is trying to ensure the economy experiences a soft landing because maintaining the right balance between a sustainable inflation rate and growth is a tricky business. “Perhaps, at some point this year, they may want to halt their rate hike campaign as the monetary policy response (rate hikes) works within a certain lag, usually around 18 months or so before it will be felt in the economy,” he said. said. Members of the US Federal Open Market Committee (FOMC) will discuss their decisions at a two-day meeting starting Tuesday. Meanwhile, the ringgit traded mostly higher against a basket of major currencies. The local note rose against the British pound to 5.3754/3784 from yesterday’s close of 5.3892/3910, strengthened against the Singapore dollar to 3.1742/1765 from 3.1770/1783, and increased vis-a-vis the euro to 4. 6091/6117 from 4.6211/6226, earlier. However, it fell against the Japanese yen to 3.2963/2984 from 3.2830/2844 yesterday. — Named Ads

Leave a Comment