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PETALING JAYA: A combination of factors including the rise in 10-year US Treasury yield and China’s modest 2021 gross domestic product growth forecast have weighed on the ringgit’s performance against the US dollar Friday, despite firmer oil prices.
Asian markets fell further on Friday after Federal Reserve boss Jerome Powell failed to soothe fears of a surge in inflation fuelled by the expected global economic recovery, which many warn could force the central bank to hike interest rates earlier than thought.
KUALA LUMPUR: The ringgit opened lower versus the US dollar on Friday due to the strengthening greenback, which was supported by the surging US bond yields, dealers said.
HONG KONG (AFP): Asian investors retreated as the rollercoaster ride on global markets continued, with fears over inflation winning the tug of war with vaccine optimism on Thursday (March 4).
KUALA LUMPUR: The ringgit failed to maintain its gains at the opening on Thursday, as it traded lower by 30 basis points (bps) against the US dollar, on lack of buying interest, said an analyst.
SINGAPORE: Oil prices rose on Wednesday as signs of progress in the COVID-19 vaccine rollout in the United States, the world's biggest consumer, raised demand expectations.
HONG KONG (AFP): Asian markets rose Wednesday (March 3) following the previous day's losses but investors remain on guard over a possible correction as concerns about asset bubbles and a surge in inflation continue to play against progress in fighting coronavirus.
KUALA LUMPUR: The ringgit remained higher versus the US dollar at Wednesday’s opening on moderate buying interest amid a drop in the greenback against the G-10 currencies.
HONG KONG (AFP): Asian markets mostly advanced again Tuesday (March 2), building on a global rebound from last week's rout as concerns about rising bond yields subsided and investors turned their attention back to the improving economic outlook and improving vaccine rollouts.