Under pressure: A currency trader showing the ringgit and US dollar notes at his money changer’s store in Kuala Lumpur. The ringgit has weakened considerably against the US dollar in the NDF market since Thursday. It hit as high as 4.54 against the dollar at 10am yesterday.
REGIONAL currencies coming under pressure after the US presidential election were something that was expected given that the Federal Reserve was looking at raising interest rates before the year ends.
This expectation of US raising interest rates picked up in pace following incoming president Donald Trump’s assertion that he would push for infrastructure projects to drive the economy, something that would raise national debt and spark inflation.
