Ringgit rallies for 10th straight day, ends at 14-month high versus US dollar

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KUALA LUMPUR: The ringgit continued its rally for the 10th day today, hitting a 14-month high of RM4.49 against the greenback at the close as anticipation for a United States (US) rate cut gained momentum, said an analyst.

The ringgit also performed better against ASEAN currencies.

"US Treasury yields have fallen quite substantially, indicating that the bond markets are projecting the Fed would cut rates this year.

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Category: EconomyBusiness

Markets: MalaysiaIndonesiaJapanSingaporeUnited States

Topics: Mohd Afzanizam Abdul Rashid US dollar /Business/Business News Ringgit US interest rates Forex

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-02 @ 19:49:00 (2 hours ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 366 words

Reading Time: 3 minutes read

Sentences: 14 lines

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Copyright Owner: © The Star

News ID: 21897557

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