Poser over the weaker ringgit, Govt expected to react to lower oil price

Year-to-date the US dollar has strengthened 6.71 against the ringgit.

PETALING JAYA: The US dollar continued to advance against major Asian currencies as another strong payroll report underpinned the growth of the world’s largest economy and raised expectations the Federal Reserve might raise the federal funds rate sooner than expected.

The greenback strengthened against a basket of Asian currencies including the ringgit, which closed at RM3.495 versus the US dollar and fell to as low as 3.507 in intraday trade. The ringgit last saw such levels at the height of the global financial crisis when funds sought safe-haven assets such as US Treasuries. Year-to-date the US dollar has strengthened 6.71% against the ringgit.