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Post by mangomoney on Dec 20, 2016 11:50:34 GMT 7
Malaysian ringgit mopes at 1998 lowsOn Monday in Asia, the dollar traded at 4.4770 ringgit, up from its previous close of 4.4755 amid outflows as a broad bullish trend extends in the greenback, according to Reuters data. The ringgit has had a torrid time since Donald Trump's win in the U.S. presidential election on Nov. 8, joining other emerging market assets that have tumbled in the wake of Trump's win, as the dollar surged and U.S. Treasury yields jumped. more... www.cnbc.coThe Malaysian ringgit has fallen to its lowest since the 1998 Asian Financial Crisis, as dollar bullishness and domestic economic weaknesses weigh on the beleaguered currency.
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Post by mangomoney on Jan 5, 2017 14:54:01 GMT 7
Things Will Get Worse for the Malaysian Ringgit: BMI ResearchRinggit was among the weaker major Asian currencies in 2017 China’s economic slowdown will weigh on Malaysian trade: BMI Malaysia’s ringgit, one of Asia’s worst-performing currencies over the past year, has further to fall, according to BMI Research. One reason is because it is affected by the yuan, which is going to remain under downward pressure, BMI said in a Jan. 4 note. There will also likely be a narrowing of real interest-rate differentials between the U.S. and Malaysia, with the latter probably staying on hold this year while the Federal Reserve increases rates by a total of 50 basis points. Further weakness in the global bond market would also put the ringgit under pressure given that around 40 percent of Malaysian bonds are held by foreigners. BMI has lowered its forecast for the ringgit. It expects it to average 4.50 per U.S. dollar this year and 4.40 in 2018, from 4.00 and 3.88 previously. The currency, which fell 4.3 percent against the greenback last year and 18.5 percent in 2015, hasn’t posted an annual gain since 2012. more... www.bloomberg.com/news/articles/2017-01-04/things-will-get-worse-for-the-malaysian-ringgit-bmi-research
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