Malaysian Ringgit Falls To More Than 7-1/2-year Low Against U.S. Dollar
24 September 2015 - 12:40PM
RTTF2
The Malaysian ringgit weakened against the U.S. dollar in the
pre-European session on Thursday, as investors remain cautious amid
continued uncertainty about the outlook for U.S. monetary policy
following last week's Federal Reserve decision, even as soft
manufacturing activity data from the U.S. and China on Wednesday
added to concerns about the global economy.
Against the greenback, the ringgit fell to more than a
7-1/2-year low of 4.3955 from an early high of 4.3600. At
yesterday's close, the ringgit was trading at 4.3800 against the
greenback.
If the ringgit extends its downtrend, it is likely to find
support around the 4.79 area.
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