Budget forecast to shore up ringgit showing

Tradeview's Wong said the weakening of the ringgit had mostly been due to the yield spread between the United States and Malaysia.

PETALING JAYA: The US dollar continues to strengthen at the cost of regional currencies including the ringgit, which closed at a 11-month low yesterday leading forex traders and analysts to pin hopes on currency interventions and a recovery in Chinese data to provide relief for the local unit.

The ringgit closed fractionally lower at RM4.728 yesterday against the greenback but not before hitting a low of RM4.7352 in intraday trade as traders said the prospects of currency interventions helped ease the pressure from the mighty US dollar.