Ringgit closes softer against US dollar and Asean currencies as Fed outlook weighs on markets (opens original article in a new tab)

The ringgit closed lower against the US dollar and Asean currencies as expectations of a possible US Federal Reserve interest rate hike later this year weighed on markets.

• The ringgit closed lower against the US dollar, falling to 4.1145/1195 from 4.0665/0700.
• Expectations of a possible US Fed interest rate hike later this year boosted demand for the US dollar.
• The ringgit weakened against several major and regional currencies including the Japanese yen, euro, Thai baht, Indonesian rupiah, Philippine peso, and Singapore dollar.