Ringgit weakens vs dollar

KUALA LUMPUR: Malaysia’s ringgit fell the most in almost two weeks as the dollar rallied before the Federal Reserve issues the minutes of its April meeting, which may shed more light on when it will raise interest rates.

A gauge of the greenback has gained 1.3% two days, after declining in each of the last five weeks. Malaysia will publish last month’s inflation data on Friday, after central bank governor Tan Sri Dr Zeti Akthar Aziz said she would review the target should crude oil prices exceed US$70 a barrel. The currency has appreciated 3% this quarter as Brent climbed 19% to above US$65.