The ringgit posted its biggest three-day drop in more than two months after the International Monetary Fund (IMF) cut its world growth forecast, dimming the appeal of emerging-market assets.
The ringgit led losses among developing-nation currencies yesterday amid rising demand for the dollar as traders revisited bets for a Federal Reserve rate increase by December following strong housing and retail-sales data.
Malaysia lowered borrowing costs last week for the first time in seven years. Brent crude has fallen 1.8% so far this week, clouding the outlook for Malaysia as Asia's only major net oil exporter.
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The ringgit led losses among developing-nation currencies yesterday amid rising demand for the dollar as traders revisited bets for a Federal Reserve rate increase by December following strong housing and retail-sales data.
Malaysia lowered borrowing costs last week for the first time in seven years. Brent crude has fallen 1.8% so far this week, clouding the outlook for Malaysia as Asia's only major net oil exporter.
For Free Signals and other KLSE online updates, click here OR Give A Missed Call : +60350219047 Follow Us On Twitter : www.twitter.com/epicresearchmy Like Us On Facebook : www.facebook.com/EpicResearchMalaysia Need Any Assistance Feel Free To Mail Us at : info@epicresearch.my
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