KUALA LUMPUR: The ringgit ended lower against the greenback on Monday as the threat of an "economic D-Day” on Iran, policy risks ahead of the Jackson Hole symposium and continued instability in the US Treasury market spurred caution.
At 6 pm, the ringgit eased to 4.0405/0440 against the US dollar from last Friday’s close of 4.0365/0405.
Quintex Intel global strategist Stephen Innes noted that the ringgit traded slightly weaker today, but described the move as cautious consolidation rather than the beginning of a more meaningful decline.
"Given the uncertainty surrounding US Treasury Secretary Scott Bessent’s promised ‘economic D-Day’ against Iran, the policy risks heading into Jackson Hole, and continued instability at the long end of the US Treasury curve, there is plenty for the foreign exchange market to digest,” he told Bernama. - Bernama
