KUALA LUMPUR: The ringgit ended lower against the greenback yesterday 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 6pm, 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 yesterday, 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.
